In DeFi, besides asking who can sign, shouldn't you also ask who can stop the money from being transferred? On October 9, according to THORChain co-founder and researcher, four TRON treasury addresses were added to the USDT blacklist, involving approximately 1.45 million USDT, and related swaps were temporarily suspended. The addresses were later unfrozen, and the researcher reported that swaps have resumed; the reason for the freeze remains unclear. Here’s what I think: even if signing rights are decentralized, stablecoin issuers still hold freezing authority. Protocol risk management needs to account for this dependency. #DeFi #Stablecoins