Circle Faces Online Backlash After Featuring DJ Khaled in Promotion

Stablecoin issuer Circle faced online criticism after featuring music producer DJ Khaled in promotional posts on social media platform X. Decrypt and Protos reported that the official USDC account posted an image of DJ Khaled wearing a Chelsea Football Club jersey bearing the USDC logo, accompanied by the caption "Another one." Circle Chief Executive Officer Jeremy Allaire later reshared the image with a message welcoming the artist to team USDC. [1][2]

The posts sparked swift pushback across social media due to DJ Khaled's past involvement with fraudulent cryptocurrency promotions. Decrypt and Protos both reported that social media users highlighted his 2018 settlement with the United States Securities and Exchange Commission, which stemmed from undisclosed charges for promoting the Centra Initial Coin Offering. [1][2]

Neither Circle nor DJ Khaled explicitly announced an official partnership or ambassador agreement. Decrypt noted that neither social media post confirmed a formal sponsorship, while Protos added that DJ Khaled's personal X feed contained no mention of any partnership with Circle. [1][2]

Circle Internet Group was founded in 2013 by Jeremy Allaire and Sean Neville and is headquartered in New York City. The company issues USDC, a stablecoin pegged to the United States dollar that Protos noted has a market valuation of 74 billion dollars. [2][9]