Circle (CRCL) CEO Jeremy Allaire on Monday defended the company’s action to not freeze the $280 million in USDC after the Drift Protocol hack, which occurred earlier this month, and led to criticism against the firm for being lax. “Circle has a very, very clear performance obligation under the law," Allaire said during a press conference in South Korea after announcing a memorandum of understanding (MoU) with South Korean cryptocurrency exchange operators Dunamu and Bithumb. "Circle follows the rule of law, and we are able to undertake actions such as freezing a wallet at the direction of law enforcement or the ... (full story)