The TRON network will no longer be used for mining the second-largest stablecoin, USDC. The Circle company released an announcement about the decision.

In the statement made; “We are discontinuing USDC on the TRON blockchain in a phased transition. Effective immediately, we will no longer mint USDC on TRON. Transfers and redemptions of USDC on TRON will continue to operate normally through February 2025.”

The US-based company stated that behind this decision was its determination to keep USDC transparent and secure, and implicitly criticized the TRON blockchain.

The company also stated that other blockchains will not be affected by this decision and that USDC will continue to expand to other chains.

There could be relations with Binance and Tether

It is uncertain what exactly caused the decision, but it is known that TRON and its founder, Justin Sun, have relations with Tether and Binance, two companies that have problems with Circle.

USDT, the largest stablecoin, is transferred via TRON in Turkey, Lebanon and many South American countries where inflation is high, especially because transaction fees on the Ethereum network are expensive. Therefore, the TRON network is a chain that is seriously used globally.

Justin Sun is also known for being one of the people that helped Binance out by providing financial support in many difficult situations. As one of the smallest but closest example of this situation; It can be shown that Sun bought Ether for $ 160 million on Tuesday and made his transactions through Binance and other decentralized exchanges. Even though Sun is on the advisory board of the HTX and wants to grow the exchange, he constantly makes such transactions.