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Zama cUSDC Contract Freeze Lifted by U.S. Court on June 2; $5M USDC to Support Launch

GateNews
Project ProgressEnforcement ActionsExchange Risk
ZAMA1.14%
USDC0.02%

According to Zama founder Rand, a U.S. court has lifted the freeze on Zama's cUSDC contract on June 2, and all systems have returned to normal. The contract was frozen last Friday without prior notice in connection with a dispute involving Overnight Finance, another protocol, rather than targeting Zama or privacy concerns. The court determined the freeze was unjustified and has now rescinded it.

Zama plans to launch its cUSDC product later this month and will deposit $5 million USDC from its treasury to support the product rollout. The protocol reiterated its confidence in USDC as a core asset despite the incident.

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