The club denies illegal funding and its relationship with Justin Sun

The USD Coin (USDC) stablecoin community has denied illegal funding and ties to Tron founder Justin Sun in an open letter posted on the Debate blog on November 30. The nonprofit watchdog group has previously accused Circle of having ties to Sun.

The post was published on November 11 and updated on November 30, but Cointelegraph could not determine the date of the letter's publication. The letter was addressed to United States Senators Elizabeth Warren and Sherrod Brown and was signed by Circle Chief Strategy Officer and Public Policy Officer Dante Dispart.

In the letter, Disparte said in the letter that Circle “recently became aware” of the “false” claims made by the “so-called accountability campaign.” The letter added: “Kebb does not directly or indirectly facilitate or financially support Hamas (or any other illegal actors).” In addition, it does not “bank” or provide financial services to Sun, Disparte explained.

Disparte denied allegations that Circle facilitated “major financial flows to Hamas or Hezbollah,” saying the allegations were based on unverified and unverified social media posts. Only $160 transferred in USDC. [illicit wallets]”The letter added, “None of this is from the circuit.”

Disparte says Circle will stop providing services to Sun in February 2023:

“Neither Mr. Sun nor any entity owned or controlled by Mr. Sun, including the TRON Foundation or Huobi Global, currently has any affiliation with Circle. To date, the U.S. government has not designated Mr. Sun or any entity as a Specially Designated Nationalist. However, in February 2023, Circle announced that Mr. It has canceled all accounts held by Sun and its affiliates.

The open letter from Circle appears to be a November 9 letter to the nonprofit Ethical Campaign for Accountability. The protocol, SunSwap, is often used for money laundering.

Related: WSJ Controversy Fuels US Lawmakers' Crusade Against Crypto

Claims that cryptocurrency is being used to fund terrorism since the Israel-Hamas war broke out on October 7. On October 10, The Wall Street Journal reported that “more than $130 million” in cryptocurrency has been donated to terrorist organizations. The media later corrected the story, saying instead that $12 million in crypto “may have been sent to these organizations.”