# Circle

**Type:** company  
**Status:** active  
**Domain:** internet-finance

## Overview

Circle is the issuer of USDC, a centralized stablecoin with technical freeze capabilities that are legally constrained in practice.

## Timeline

- **2026-04-03** — Circle faced criticism for not freezing $285M in stolen USDC from Drift Protocol exploit, stating "freezing assets without legal authorization carries legal risks," revealing fundamental tension between technical capability and legal constraints in stablecoin security architecture