logo

Solana co-founder toly: A foundational stablecoin should be constructed to only be frozen with court authorization

By: rootdata|2026/04/14 00:42:00
0
Share
copy
ceoceo

Solana co-founder toly commented on the controversy surrounding Circle's USDC freezing mechanism, stating that we need a base layer stablecoin that can only be frozen under a court order. If there are other factors that can freeze it besides authorization from a judge approved by the U.S. Senate, then it is not a true dollar stablecoin.

toly suggested that various protocols (such as Drift and Kamino) should issue wrapped stablecoins with their own freezing and unfreezing strategies on top of the base layer stablecoin, equipped with a security team truly responsible for handling hacking incidents, while having independent freezing and unfreezing strategies.

It is reported that after the recent hacking of the Drift protocol, Circle did not promptly freeze the stolen USDC. Circle CEO Jeremy Allaire's remarks about the "moral dilemma" and freezing policy have sparked widespread discussion in the community regarding the freezing mechanisms of centralized stablecoins.

-- Price

--

You may also like

Naval personally takes the stage: The historic collision between ordinary people and venture capital

Naval personally stepped in as the chairman of the USVC Investment Committee. This SEC-registered fund launched by AngelList attempts to bring top private tech assets like OpenAI, Anthropic, and xAI to the general public with a $500 entry threshold. It is not just a new fund, but a structural experi...

a16z Crypto: 9 Charts to Understand the Evolution Trends of Stablecoins

Stablecoins are evolving from trading tools into universal payment infrastructure, and this process is quieter and more thorough than most people expected.

Refutation of Yang Haipo's "The End of Cryptocurrency"

This may be the true test of cryptocurrency. It's not about whether the price has reached a new high, nor about who will achieve financial freedom in the next bull market, but rather whether, after all the grand narratives have been washed away by cycles, it can still leave behind some simpler, more...

Can a hairdryer earn $34,000? Interpreting the reflexivity paradox of prediction markets

Prediction markets are essentially betting on reality, and when participants can access or even influence this path earlier, the market no longer just reflects reality but begins to shape it in return.

6MV Founder: In 2026, the "landmark turning point" for crypto investment has arrived

"I will deploy funds in 2026, so I will tell you this is the best year in history."

Abraxas Capital Mints $2.89 Billion USDT: Liquidity Boost or Just More Stablecoin Arbitrage?

Abraxas Capital just received $2.89 billion in freshly minted USDT from Tether. Is this a bullish liquidity injection for crypto markets, or is it business as usual for a stablecoin arbitrage giant? We analyze the data and the likely impact on Bitcoin, altcoins, and DeFi.

The Joker is back
Bigger pools, auto-play, lucky buffs.
The Joker is backJoin now and grab your rewards.

Contents

Popular coins

Latest Crypto News

03:42

Trump: Warns bankers not to obstruct the advancement of cryptocurrency legislation

According to Jinshi, U.S. President Trump warned bankers at a cryptocurrency conference not to obstruct the advancement of cryptocurrency legislation.
02:42

Data: If BTC breaks through 80,974 USD, the cumulative short liquidation intensity on mainstream CEX will reach 715 million USD

According to Coinglass data, if BTC breaks through $80,974, the cumulative short liquidation intensity on mainstream CEX will reach $715 million. Conversely, if BTC falls below $74,180, the cumulative long liquidation intensity on mainstream CEX will reach $715 million.
02:42

Data: If ETH breaks through 2,421 USD, the cumulative short liquidation intensity on mainstream CEX will reach 493 million USD

According to Coinglass data, if ETH breaks through $2,421, the cumulative short liquidation intensity on mainstream CEX will reach $493 million. Conversely, if ETH falls below $2,212, the cumulative long liquidation intensity on mainstream CEX will reach $482 million.
00:42

Time: The address marked as "BLESS Whale" received 99.9 million BLESS from the Null Address

According to Arkham monitoring, the Null address (0x000...000) recently transferred a total of 99.9 million BLESS to the address 0xa6a...1323 through minting, worth approximately $654,800. This token directly originates from the initial minting.On-chain data shows that the receiving address has freq...
00:42

Data: In the past 24 hours, the total liquidation across the network was 173 million USD, with long positions liquidated at 107 million USD and short positions liquidated at 66.0149 million USD

According to Coinglass data, in the past 24 hours, the total liquidation across the network was $173 million, with long positions liquidated at $107 million and short positions liquidated at $66.0149 million. Among them, Bitcoin long positions were liquidated at $12.5968 million, Bitcoin short posit...
Read more
Community
iconiconiconiconiconiconicon

Customer Support Bot：@WEEX_support_smart_Bot

VIP Services：support@weex.com