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File: 58 KB, 1091x1086, Tornado-Cash-pdf-e1660202302122.jpg [View same] [iqdb] [saucenao] [google]
52464383 No.52464383 [Reply] [Original]

>In compliance with the government sanction, Circle, the issuers of USDC — a stablecoin tied to the U.S. dollar — froze over $75,000 of assets on the platform.
https://www.nerdwallet.com/article/investing/tornado-cash-sanctions

Whats to stop the holders just using that "frozen" USDC on uniswap etc?
Is there something built into the USDC token that enables them to block transactions with it?

If so USDC is worthless piece of shit.

>> No.52464424

>>52464383
>Is there something built into the USDC token that enables them to block transactions with it?
a 2 minute of googling would answer this question for you. yes there is and most stablecoins except dai have this feature

>> No.52464429
File: 1.90 MB, 1920x1080, 1622649756053.png [View same] [iqdb] [saucenao] [google]
52464429

>>52464383
They can flag any specific address on just about any stablecoin, (they're all centralised) and put it in a blacklist on glowies request

>> No.52464442

USDC runs on the ETH network, therefore ETH is a piece of shit.

>> No.52464456

>>52464424
But DAI is backed by the stablecoins that do. Imagine if they freezed DAIs reserves. Which they could do.

>> No.52464457

>>52464383
Karma is a bitch, uh?
SBF pushed DC to sanction TORN,
and now the FTX "insider hacker" use it to clean the hacked money!

>> No.52464468

>>52464424
>>52464429
wow. im dumping my USDC. faggots.

I wonder if this is why they are terrified of algorimitic stable coins and want to ban them
>LUNA attacked, we need to ban them
>FTX bankrupted, we need more crypto regulation
its all so tiresome.

>> No.52464480
File: 98 KB, 720x720, SBF you'll own nothing 2.jpg [View same] [iqdb] [saucenao] [google]
52464480

>>52464457
SBF is the "hacker" isnt he...

>> No.52464534

>>52464468
its true but its not that deep, why would FED share their money issuance cake with anyone, they’ve been fighting for their current position for a century? and luna was a ponzi with unsustainable yields in a pvp game, its their own fault
>>52464456
yea they could which is why dai is not perfect but its a buffer. the only alternatives are obscure algo stables with tiny mcaps like FRAX sUSD MIM but they all have their own risks, FRAX seems the most solid

>> No.52464747

>>52464534
>luna was a ponzi with unsustainable yields in a pvp game, its their own fault
i agree.
but they use it as an excuse to outright ban all algorithmic stable coins. Liquid loans have a USDL coin planned for plusechain. I need to research that more.

https://youtu.be/9cpa1v8AC68

>> No.52464807

>>52464383
You're just discovering now that circle and tether can freeze all their stablecoins in one click?

>> No.52464843

>>52464468
The problem is those algo stables are backed by nothing except fartless digital beans and always ran by scammers. a bank run sends them to zero eventually every time. The most promising stablecoin is probably frax currently but they'll face a huge uphill battle to gain ground against fedcoins and ponzicoins (before they blow up)

>> No.52464954

>>52464383
>he doesn't know

>> No.52464975

>>52464954
btw BUSD = the gentleman's stable coin
based CZ not putting in any of this pussy ass 'freeze' functionality like tether and circle
paxos ftw

>> No.52464983

>>52464975
ironically BUSD is the most regulated and safest of all the stables...
how CZ manages to be so based i do not know
/ed

>> No.52465042

>>52464807
yeh, i guess i missed the tornado thing when it unfolded. I dont often hold stable coins Tbh. But doesnt surprise me those rats put a kill switch in it.

>>52464975
interesting. Good to know.

>> No.52465049

More like tornado crash

>> No.52465079
File: 168 KB, 1382x732, FhVLptxXgAMv0ev.jpg [View same] [iqdb] [saucenao] [google]
52465079

>>52464480
nothing to see here

>> No.52465096

>>52465079
and yet NO freeze on these funds??

>> No.52465106
File: 2.47 MB, 2000x1782, 1662659063192914.jpg [View same] [iqdb] [saucenao] [google]
52465106

>>52464429
i hate glowies for ruining everything. all glowies reading this thread FUCK YOU

>> No.52465115

>>52465096
I do believe some of them were frozen. Regardless Sam "not the hacker" Bankman is still going to make out with a goodie bag of customer funds.

>> No.52465392

>>52465096
people trade over to DAI because that's another one that can't be frozen.
but it's also backed primarily by USDC. so if they decide to freeze all of DAI's USDC collectively it's lights out.

>> No.52465912

>>52464975
>based CZ not putting in any of this pussy ass 'freeze' functionality like tether and circle
source? he can be forced to do that

>> No.52465921

>>52465042
>yeh, i guess i missed the tornado thing when it unfolded
they've been freezing criminal wallets for years.