Court order prompts Circle to blacklist Zama cUSDC contract, freezing 12,606,386 USDC

A federal judge directed Circle to blacklist Zama's confidential USDC (cUSDC) contract on Friday night, and the block took effect at 1:08 a.m. UTC on Saturday, freezing 12,606,386 USDC. The action stems from a May 28 class action tied to Overnight Finance, with Zama CEO Rand Hindi saying the contract was "caught in a crossfire" and that the team is investigating and pausing related confidential wrappers.