The U.S. judge lifts the $57.6 million freeze on funds for the Libra founder, and 5 hours later YZY is released.
By: theblockbeats.news|2025/08/21 04:32:06
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BlockBeats News, August 21st, according to Decrypt, on Tuesday, a federal judge in Manhattan unfroze assets related to the infamous Libra token. The Libra token was launched in February this year, heavily promoted by Argentine President Javier Milei, but almost went to zero within 24 hours.
Previously, U.S. District Judge Jennifer L. Rochon froze $57.6 million worth of USDC in June, as part of a case in which the plaintiff is claiming over $100 million. The frozen assets were held in two wallets controlled by Hayden Davis, CEO of the defendant venture capital firm Kelsier Labs LLC, and Ben Chow, founder of DEX Meteora.
On Tuesday, Judge Rochon stated that since both individuals have so far complied with legal procedures, their actions did not constitute "actions of evading responsibility." Therefore, she decided to lift the freeze request on $57.6 million worth of USDC.
In response, cryptocurrency KOL scooter (@imperooterxbt), who was involved in exposing the insider information of the LIBRA token, commented that 5 hours after Hayden Davis's funds were unfrozen, YZY was released, saying, "I'm afraid this is not a coincidence."
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