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Court Freezes $57.65M USDC in LIBRA Token Scandal—Kelsier Ventures Left Holding the Bag
Court Freezes $57.65M USDC in LIBRA Token Scandal—Kelsier Ventures Left Holding the Bag
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Another day, another crypto custody clash. A US court just slammed the brakes on $57.65 million in USDC tied to embattled LIBRA tokens—courtesy of Kelsier Ventures’ alleged financial gymnastics.
The Irony of ’Stable’ Assets
While USDC promises stability, the legal system just proved even the safest bets aren’t immune to human drama. The frozen funds now sit in regulatory purgatory—poetic justice for an industry that still thinks ’compliance’ is a suggestion.
Venture Capital’s Reckoning
Kelsier’s nine-figure headache exposes the dirty secret of crypto investing: when the music stops, the VCs are left scrambling for chairs. Maybe next time they’ll read the fine print before playing fast and loose with stablecoins.
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