Assets linked to the controversial Libra meme coin, launched in February and promoted by Argentine President Javier Milei, have been unfrozen by a Manhattan federal judge. The judge determined that defendants Hayden Davis and Ben Chow had sufficiently complied with court proceedings, alleviating concerns they might abscond with the funds. Initially, $57.6 million in USDC was frozen as part of a lawsuit seeking over $100 million in damages. Judge Jennifer L. Rochon stated there was no sufficient evidence of irreparable harm to justify keeping the funds frozen. Meanwhile, Chow and Davis maintain that the allegations against them are unproven and without merit, emphasizing their compliance throughout the legal process. The Libra token's launch saw a drastic rise in its market capitalization, only to plummet by 97% shortly after, raising questions about potential investor misinformation linked to its promotion by President Milei. The outcome of the ongoing legal battle remains uncertain, with plaintiffs asserting they were misled, while defense attorneys are preparing to dismiss the case as baseless.

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