Circle Denies Hamas Funding And Justin Sun Banking: Report

Key Points:

• Circle denies facilitating or financing Hamas and clarifies that they do not bank Justin Sun.
• Circle emphasizes their commitment to combating illicit finance activities and their cooperation with regulators and law enforcement agencies.

Circle Denies Hamas Funding and Justin Sun Banking. They emphasize their commitment to combating illicit finance activities and supporting regulation in the digital assets industry.

Circle has written a formal letter to Senators Sherrod Brown and Elizabeth Warren in response to false claims made by the Campaign for Accountability (CfA). In the letter, Circle denies facilitating or financing Hamas and clarifies that they do not bank Justin Sun.

Circle emphasizes its commitment to combating illicit finance activities and its cooperation with regulators and law enforcement agencies. According to the letter, Elliptic and the Wall Street Journal “self-corrected”, stating that PIJ and Hezbollah may have exchanged up to $12 million in crypto.

Public blockchain ledgers show only $160 transferred in USDC among the $93 million wallets identified by Israel, none acquired from Circle. CfA’s claim of Circle financing funds to Hamas or Hezbollah based on social media posts is inaccurate and misleading.

Circle does not “bank” Justin Sun.  Neither Mr. Sun nor any entity owned or controlled by Mr. Sun, including the TRON Foundation or Huobi Global, currently have accounts with Circle. Wrote in the letter

Circle Denies Hamas Funding And Justin Sun Banking

They mention their active role in identifying instances of fraud and assisting in the recovery of funds. Circle also addresses claims made by CfA regarding the financing of Palestinian Islamic Jihad (PIJ), stating that only a small amount of funds transferred in USDC were among the wallets identified by the Israeli government, and none of it was acquired from Circle.

Additionally, Circle clarifies that they terminated all accounts held by Justin Sun and his affiliated companies. They highlight their compliance with regulations and their support for a comprehensive federal framework to govern stablecoins. Circle has advocated for federal prudential regulation and stronger consumer protections in the digital assets industry.

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