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Who can upgrade the biggest stablecoins?

The largest stablecoins by supply (DefiLlama), their Ethereum contract, and who can change it: proxy admin, owner(), AccessControl role holders (rebuilt from RoleGranted events and confirmed with hasRole()), or Maker-style wards. Each holder is resolved on-chain to an EOA, a Safe m-of-n, a timelock or another contract.

An EOA here means one on-chain signer. Issuers such as Circle and Paxos almost certainly hold these keys in HSMs or MPC, which can't be seen on-chain. What the table shows is that there is no on-chain multisig or delay, so holders get no warning before a change. "Unrecognised contract" usually means a custom multisig, a governor or an issuer-specific controller.

Raw data: stablecoins.json. Check any contract with the free checker, or get an email when one of these changes: free alerts. Corrections: [email protected].