{"id":43491,"date":"2025-08-22T04:01:42","date_gmt":"2025-08-22T04:01:42","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=43491"},"modified":"2025-08-22T04:01:42","modified_gmt":"2025-08-22T04:01:42","slug":"libra-soars-400-as-57m-usdc-gets-unfrozen-by-court","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=43491","title":{"rendered":"LIBRA Soars 400% as $57M USDC Gets Unfrozen by Court"},"content":{"rendered":"<div>\n<p><b>TL;DR<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">US court unfreezes $57M USDC tied to Libra, sparking renewed market activity and a sharp rally.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">LIBRA token skyrockets 393% in one day, fueled by asset release and renewed investor attention.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Despite lawsuit uncertainty, traders push LIBRA higher, with volume rising and volatility returning to the token.<\/span><\/li>\n<\/ul>\n<h2><b>Federal Judge Releases Frozen USDC<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">A US federal judge has lifted a freeze on over $57 million in USDC connected to the Libra token lawsuit. The funds were held in two wallets tied to meme coin promoter Hayden Davis and Ben Chow, the former CEO of Meteora exchange. The assets were <\/span><a href=\"https:\/\/cryptopotato.com\/libra-token-fallout-court-blocks-57-65m-in-usdc-linked-to-kelsier-ventures\/\" data-wpel-link=\"internal\"><span style=\"font-weight: 400;\">frozen in May<\/span><\/a><span style=\"font-weight: 400;\"> as part of a class-action case brought by investors seeking over $100 million in damages related to the collapse of the Libra token.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Judge Jennifer L. Rochon, presiding in the Southern District of New York, <\/span><a href=\"https:\/\/www.law360.com\/securities\/articles\/2378904?nl_pk=ff39e01a-1416-43f0-9cad-c68aca4df535&amp;read_main=1&amp;nlsidx=0&amp;nlaidx=6\" data-wpel-link=\"external\" target=\"_blank\"><span style=\"font-weight: 400;\">said<\/span><\/a><span style=\"font-weight: 400;\"> she no longer saw a reason to keep the freeze in place. The court found that both Davis and Chow had complied with earlier restrictions and had made no attempt to move or conceal the funds.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Meanwhile, the lawsuit remains ongoing. Although Judge Rochon removed the freeze, she did not dismiss the case. She noted the early stage of proceedings and said the plaintiffs had not demonstrated that keeping the funds frozen was necessary.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">During the hearing, Chow\u2019s attorney, Samson Enzer of Cahill Gordon &amp; Reindel LLP, referred to the claims as \u201cuntested\u201d and said they plan to file a motion to dismiss. The court\u2019s decision to release the funds gives the defendants access to capital as they prepare their defense.<\/span><\/p>\n<h2><b>LIBRA Token Sees Sharp Price Reaction<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Following news of the asset release, the price of the LIBRA token jumped sharply. It rose over 393% in the last 24 hours and by more than 409% over the past week. At the time of writing, LIBRA is priced at $0.043 with a daily trading volume of just under $70,000.<\/span><\/p>\n<figure id=\"attachment_409545\" aria-describedby=\"caption-attachment-409545\" style=\"width: 1674px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/08\/Screenshot-2025-08-21-at-15.44.12.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-409545\" src=\"http:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/08\/Screenshot-2025-08-21-at-15.44.12.png\" alt=\"LIBRA 1-day price chart \" width=\"1674\" height=\"1056\" srcset=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/08\/Screenshot-2025-08-21-at-15.44.12.png 1674w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/08\/Screenshot-2025-08-21-at-15.44.12-300x189.png 300w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/08\/Screenshot-2025-08-21-at-15.44.12-1024x646.png 1024w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/08\/Screenshot-2025-08-21-at-15.44.12-768x484.png 768w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/08\/Screenshot-2025-08-21-at-15.44.12-1536x969.png 1536w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/08\/Screenshot-2025-08-21-at-15.44.12-50x32.png 50w\" sizes=\"auto, (max-width: 1674px) 100vw, 1674px\"><\/a><figcaption id=\"caption-attachment-409545\" class=\"wp-caption-text\">Source: Coingecko<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Remarkably, the surge comes months after <\/span><a href=\"https:\/\/cryptopotato.com\/bubblemaps-exposes-libras-100m-insider-scheme-heres-what-you-need-to-know\/\" data-wpel-link=\"internal\"><span style=\"font-weight: 400;\">LIBRA\u2019s collapse<\/span><\/a><span style=\"font-weight: 400;\"> in February. The token reached a peak market cap of $4.56 billion shortly after its launch, driven in part by a now-deleted social media post from Argentine President Javier Milei. The post <\/span><a href=\"https:\/\/cryptopotato.com\/special-committee-to-probe-president-mileis-role-in-libra-meme-coin-scandal\/\" data-wpel-link=\"internal\"><span style=\"font-weight: 400;\">led<\/span><\/a><span style=\"font-weight: 400;\"> many to believe the project had government support, but the price dropped by more than 97% within 24 hours.<\/span><\/p>\n<h2><b>Project Remains Under Scrutiny<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Davis became the public face of the project during its decline and later <\/span><a href=\"https:\/\/cryptopotato.com\/financial-damages-from-libra-coin-fiasco-revealed-in-nansen-report\/\" data-wpel-link=\"internal\"><span style=\"font-weight: 400;\">claimed<\/span><\/a><span style=\"font-weight: 400;\"> he remained in control of the token\u2019s assets. Chow resigned from Meteora after the fallout, with internal disputes over the decision to work with Davis.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Although there have been unresolved legal issues, the recent court ruling has raised eyebrows over LIBRA. Demand is back on the rise; however, the future of the project remains uncertain in the long term.<\/span><\/p>\n<p>The post <a href=\"https:\/\/cryptopotato.com\/libra-soars-400-as-57m-usdc-gets-unfrozen-by-court\/\">LIBRA Soars 400% as $57M USDC Gets Unfrozen by Court<\/a> appeared first on <a href=\"https:\/\/cryptopotato.com\/\" rel=\"nofollow\">CryptoPotato<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>TL;DR US court unfreezes $57M USDC tied to Libra, sparking renewed market activity and a sharp rally. LIBRA token skyrockets 393% in one day, fueled by asset release and renewed investor attention. Despite lawsuit uncertainty, traders push LIBRA higher, with volume rising and volatility returning to the token. Federal Judge Releases Frozen USDC A US [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-43491","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/43491","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=43491"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/43491\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=43491"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=43491"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=43491"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}