Griff Green, a member of the Arbitrum Security Council, has publicly slammed stablecoin issuer Circle for its lack of action against hacker threats, while praising Tether’s proactive approach. Green noted that Tether frequently freezes hacker-linked funds in alignment with early crypto principles, whereas Circle—backed by Goldman Sachs—prioritizes profitability over security.
Community Leverage: Selling USDC as a Pressure Tactic
Green called on the crypto community to consider selling off USDC en masse to force Circle to take more decisive steps against hackers. He argued that market pressure might be more effective than moral appeals. The suggestion quickly sparked debate: some users supported it as a necessary enforcement mechanism, while others warned of potential market turmoil.
Stablecoin Security Rivalry Heats Up
As stablecoins dominate crypto trading volumes, their security posture faces increasing scrutiny. Tether has repeatedly frozen stolen funds and cooperated with law enforcement, while Circle has been criticized for slow responses, prioritizing compliance costs and business interests. Green’s remarks amplify existing concerns about Circle’s commitment to ecosystem security.
Circle has yet to officially respond to the criticism. Analysts suggest that stablecoin issuers must balance regulatory demands with community expectations for security, or risk losing trust and market share as DeFi expands.