According to breaking news, stablecoin company Circle has frozen $57 million worth of USDC associated with the Libra team.
The freeze was lifted following a decision requested by Burwick Law and issued by a US court.
The freeze was implemented as part of a fraud case involving individuals including Hayden Davis, Kelsier, Ben Chow, and Meteora. Circle took action after allegations that assets linked to the two wallets were used in illegal activities related to the memecoin LIBRA.
The company said in a statement that this decision was taken in line with the increased scrutiny of regulatory authorities and the need to comply with applicable legal regulations. The frozen funds will be evaluated under court supervision in the future, depending on the progress of the investigation.
*This is not investment advice.
