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Circle Banned a Tether-Backed Fund Over Manipulation Fears, and an Arbitrator Agreed

calendar_today July 16, 2026 person coinpaprika domain coinpaprika

Circle suspended the Tether-backed Heka Funds in December 2023 over concerns the fund manipulated the USDC market. A retired judge later sided with Circle, rejecting Heka’s $49 million claim and awarding the issuer about $166,000.

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