Circle's USDC, the crypto world's second-largest stablecoin, will discontinue unpopular Justin Sun's popular Tron network.
So Long Tron
Circle has announced that its USDC will cease the Tron blockchain. Users are told to move their USDC to other supported blockchains or exchange it for fiat. Circle Mint clients can do this directly; retail holders and non-Circle customers are advised to use the available services, such as brokerages and exchanges.
For some strange Reason
Circle gave no specific details when citing the cause of leaving TRON. It appears that Jeremy Allaire, the CEO of Circle, and Justin Sun, the founder of Tron, are at odds. I believe that Jeremy's suspicions have likely grown after Justin's aggressive minting on TRON led to the depegging of another stablecoin TUSD.
Don't panic, there is still time
Users have been granted until February 2025; therefore, transactions involving USDC will persist on the TRON blockchain for a duration of 11 months. The reason for the popularity of the Tron blockchain is its low transaction fees; consumers still have time to look for alternatives, and USDC may discover other affordable networks.
