$57M in USDC Frozen by Circle Amid LIBRA Token Lawsuit
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Circle has frozen two wallets containing $57 million in USDC following a U.S. federal court order linked to a class-action lawsuit involving the LIBRA memecoin. The action underscores escalating regulatory scrutiny on memecoin projects as authorities prioritize investor protections.
A June 9 court hearing will determine whether the frozen funds remain locked. The case highlights the legal risks facing controversial tokens as judicial oversight tightens in the digital asset space.
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Circle Freezes $57M in USDC Following Court Order in LIBRA Token Lawsuit
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