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HTX News

06/02 01:30

Zama Founder: Court Lifts Temporary Restraining Order on cUSDC Contract, Agreement Resumes Normal Op

On June 2, Rand, the founder of the privacy protocol Zama, announced that the freezing measures on the cUSDC contract held by Zama have been lifted, and all systems are now operating normally. Previously, a U.S. court had ordered Circle to temporarily freeze a contract worth $12.5 million in USDC held by Zama without prior notice. The court has now deemed this freezing measure unreasonable and has revoked the temporary restraining order, fully restoring the related cUSDC contracts and assets. Rand stated that this incident has not affected the team's trust in USDC, and Zama still plans to launch the cUSDC product later this month.

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