To understand the reasons behind the cessation of USDC operations on TRON, one does not need insider information, just careful reading of the texts.
USDC “must inspire trust, be transparent and secure,” states the stablecoin’s issuer, Circle. Can we talk about all this while supporting the TRON network owned by Justin Sun? -If you want my opinion, yes, because a shovel does not choose what to dig, be it garden beds or trenches.
Nevertheless, American senators regularly criticize Justin Sun’s operations, primarily because, allegedly, “dirty money” is transferred in large volumes through the TRON network, financing terrorism and other nefarious activities.
Senators Elizabeth Warren and Sherrod Brown demanded explanations from Circle regarding their collaboration with Justin Sun on the matter of illegal activities last year. At that time, Circle refuted these accusations, adding that Justin Sun is not on the US Government’s blacklist. However, all accounts associated with Justin Sun, TRON Foundation, and Huobi Global were frozen by the company.
Currently, the circulating volume of USDC in the TRON network is only $313 million, which is a drop in the ocean compared to $22 billion in the Ethereum network, so practically, we won’t feel this news impact.
Yet, this information evokes sad feelings, as one of Circle’s shareholders is the Coinbase exchange, which founded Fairshake – a committee to counteract Elizabeth Warren’s attempts to halt the development of cryptocurrencies in the USA. The committee’s total budget is about $73 million, not a penny of which will go towards strengthening the position of the Chinese TRON network, which operates quickly and efficiently, contributing more to the development of cryptocurrencies than Fairshake does today.