Anchorage ‘Safety Matrix’ faces backlash over stablecoin delistings

Nick van Eck, co-founder and CEO of Agora, behind one of the stablecoins Anchorage said it would phase out, claimed inaccuracies and an inconsistently applied framework.

Anchorage Digital is drawing criticism from at least one stablecoin issuer after announcing plans to phase out support for three stablecoins, citing “regulatory expectations” and internal risk assessment.

Nick van Eck, co-founder and CEO of Agora, criticized Anchorage’s move to remove support for stablecoins USDC (USDC), Agora USD (AUSD), and Usual USD (USD0) in a Thursday X post, claiming the decision was based on “easily verifiable and known factual inaccuracies.”

He said that Anchorage failed to disclose its relationship with stablecoin issuer Paxos, which could potentially benefit from the phasing out of tokens issued by other platforms.

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