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The Libra Meme coin case promoted by the President of Argentina involves the unfreezing of 57.6 million USDC.

2025-08-20 22:12:22

MEME-8.06%

USDC0.01%

Golden Finance reported that U.S. District Judge Jennifer L. Rochon in Manhattan unfreezed assets worth $57.6 million USDC related to the Libra Meme coin on Tuesday. The coin was launched in February this year and promoted by Argentine President Javier Milei, but collapsed within hours of going live. Previously, the judge had frozen the assets in June because the plaintiffs were seeking over $100 million in damages.
The judge stated that the defendants Hayden Davis and Ben Chow cooperated well during the trial and their behavior was not considered "evading litigation," so there are no longer concerns about them transferring funds. At the same time, the judge expressed skepticism about whether the plaintiffs could win the lawsuit. This unfreezing means the defendants can reuse the funds.

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