.circlepay’s venture-capital arm has invested in nomadxyz_ and slope_finance, which were both hacked this week, adding to Circle’s headaches as the stablecoin industry faces scrutiny. BrandyBetz reports
“We are monitoring the current situation,” a Circle spokesperson responded when CoinDesk asked for a comment regarding the Nomad exploit. The statement was repeated when Circle was asked about Slope Finance.
Circle’s ties to Nomad and Slope didn’t cause any financial damage to the company, according to the spokesperson. The investments, however, showed how the interconnections of a growing industry can cast a shadow. Circle’s USDC, which is pegged to the U.S. dollar, is the second-largest stablecoin, with a $54 billion market capitalization, according to CoinMarketCap data. It trails only Tether’s $66 billion USDT.
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