ExchangeDEX+

Buy Crypto Markets Spot FuturesXAUT Earn Event Center

The judge cited ongoing cooperation of the defendants in the case as one of the reasons for unfreezing the stablecoins. A US judge has unfrozen $57.6 million in USDC (USDC) stablecoins tied to the Libra token scandal in February, giving memecoin promoter Hayden Davis and former CEO of the Meteora decentralized exchange Ben Chow access to the funds.US judge Jennifer L. Rochon froze the funds in May as part of a hearing in a class-action lawsuit against Davis, Chow, blockchain infrastructure company KIP Protocol and KIP’s co-founder, Julian Peh.The Judge said the defendants did not demonstrate “irreparable” harm because the funds to reimburse victims are still available, and the defendants have made no effort to move the frozen funds, according to Law360.Read more The judge cited ongoing cooperation of the defendants in the case as one of the reasons for unfreezing the stablecoins. A US judge has unfrozen $57.6 million in USDC (USDC) stablecoins tied to the Libra token scandal in February, giving memecoin promoter Hayden Davis and former CEO of the Meteora decentralized exchange Ben Chow access to the funds.US judge Jennifer L. Rochon froze the funds in May as part of a hearing in a class-action lawsuit against Davis, Chow, blockchain infrastructure company KIP Protocol and KIP’s co-founder, Julian Peh.The Judge said the defendants did not demonstrate “irreparable” harm because the funds to reimburse victims are still available, and the defendants have made no effort to move the frozen funds, according to Law360.Read more

Judge unfreezes over $57M in stablecoins linked to Libra token scandal

2025/08/21 05:57

The judge cited ongoing cooperation of the defendants in the case as one of the reasons for unfreezing the stablecoins.

A US judge has unfrozen $57.6 million in USDC (USDC) stablecoins tied to the Libra token scandal in February, giving memecoin promoter Hayden Davis and former CEO of the Meteora decentralized exchange Ben Chow access to the funds.

US judge Jennifer L. Rochon froze the funds in May as part of a hearing in a class-action lawsuit against Davis, Chow, blockchain infrastructure company KIP Protocol and KIP’s co-founder, Julian Peh.

The Judge said the defendants did not demonstrate “irreparable” harm because the funds to reimburse victims are still available, and the defendants have made no effort to move the frozen funds, according to Law360.

Market Opportunity

Moonveil Price(MORE)

$0.002512

$0.002512$0.002512

+0.43%

USD

Moonveil (MORE) Live Price Chart

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.