Circle, the company behind USD Coin (USDC), has refuted allegations that it been served a Wells Notice regarding its stablecoin tethered to the US dollar.
On February 14, Fox Business reporter Eleanor Terrett stated in a since-deleted tweet that the U.S. had ordered Circle. Because USDC is an unregistered securities, the Securities and Exchange Commission (SEC) has ordered the selling of the stablecoin to stop.
Dante Disparte, Chief Strategy Officer and Head of Global Policy at Circle Pay explained on Twitter just 15 minutes after Terrett's remark that his firm has not gotten a Wells Notice.
Terrett's apologies was accepted, Dante informed her in a subsequent tweet, adding:
Terrett's initial tweet has subsequently been removed. She also had her Twitter account deactivated.