Circle freezing $12.6M in Zama confidential USDC contract is a wild reminder of how crypto actually works today People get excited about privacy tech, encryption, and all the fancy infrastructure But if the stablecoin itself can be frozen by the issuer, that power doesn’t magically disappear because the transactions are private Not even a shot at Zama, it's just reality You can hide the transaction, you can’t hide from the issuer controls a lot of people are finally realizing that privacy and censorship resistance are two completely different things(Justin Wu)