The implementation of the recently launched Gemini dollar (GUSD) stablecoin can be completely changed by a Gemini custodian every 48 hours, according to a study authored by blockchain researcher Alex Lebed and crypto consultant Alexey Akhunov, published on Medium on September 11.
In the research, the authors review the code of the GUSD’s smart contract in order to demonstrate that the implementation of the Gemini USD can become non-transferrable or frozen at any moment, which is noted in the Gemini dollar’s white paper. The option of pausing, blocking, or reversing GUSD transfers is one of the basic technical principles of the new centralized stablecoin introduced by Tyler and Cameron Winklevoss, according to the white paper.
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