LIBRA Meme Coin Surges Following US Court Ruling, Then Crashes

The LIBRA meme coin experienced volatile price action after a US federal judge lifted an asset freeze on promoters Hayden Davis and Ben Chow. Judge Jennifer L. Rochon's decision throws Burwick Law's class-action lawsuit into question, potentially allowing the defendants to reclaim $57.5 million in frozen USDC.

Argentine President Milei's dissolution of the investigative Task Force may shield other promoters from consequences. The LIBRA scandal had previously rocked Argentina's crypto community, with allegations of rug pulls involving high-ranking officials.

Market reaction was swift but fleeting—LIBRA spiked on the news before plummeting back to previous levels. The case highlights growing cynicism in crypto markets, with some observers quipping 'crime is legal now.'