Circle CEO Blames ‘Moral Quandary’ for Not Acting on $280M Drift Exploit

The stablecoin issuer Circle has doubled down on its defense against criticism for failing to act during an exploit that led to roughly $280 million in losses from the Solana-based Drift Protocol. This time, the company’s CEO, Jeremy Allaire, responded during a press conference in Seoul, South Korea, and cited a moral quandary. The chief executive insisted that Circle cannot decide which path is right or wrong and ca…