Circle, the issuer of the $74 billion USDC stablecoin, has announced DJ Khaled as its new ambassador by sharing a promotional photo of the music producer wearing the Chelsea FC shirt sponsored by USDC. This appointment comes after DJ Khaled’s troubles with the SEC in 2018, when he promoted the $25 million Centra Tech ICO without disclosing the $50,000 he received, resulting in a $153,000 settlement. Circle has also faced criticism for the failed launch of the DUKE token, based on CEO Jeremy Allaire’s dog, which has dropped 96% in three weeks. The company is also reproached for its inaction during major hacks, including the transfer of $3 million in USDC to unfreezable assets.
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