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Rokas Baltrusaitis

Circle Blacklists Zama's cUSDC Contract, Freezing 12.6 Million USDC on Ethereum

Circle froze more than 12.6 million USDC held in Zama's Confidential USDC (cUSDC) smart contract, raising new questions about issuer control over DeFi infrastructure. The move appears connected to a dispute involving Overnight Finance, but pooled funds meant some unrelated users were also impacted. ZAMA traded at $0.03346 on June 1, down 10.1% on the day, while still up 1.9% over the week and 23.7% over the month.
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