Judge unfreezes $57.6 million in USDC assets related to Libra

A federal judge in Manhattan has unfrozen $57.6 million in USDC assets linked to the Libra (LIBRA) meme coin scandal. The assets were previously frozen after investors accused Hayden Davis (CEO of Kelsier Labs) and Ben Chow (founder of Meteora) of misleading them. The judge stated that the defendants cooperated in the lawsuit, the plaintiffs failed to prove irreparable harm, and the case remains in its early stages. Libra, which was promoted by Argentinian President Javier Milei, saw its market value plummet 97% after its IPO.