According to Breaking News, Stablecoin Company Circle has frozen USDC worth $57 million related to the Libra team.
The freeze was lifted following a decision requested by the Berwick Act and issued by a US court.
The Freeze was implemented as part of a fraud case involving individuals such as Hayden Davis, Kelsier, Benchou, and Meteora. The circle took action after allegations that assets linked to the two wallets were being used in illegal activities related to Memocoin Libra.
The company said in a statement that the decision was taken in line with increased regulatory scrutiny and the need to comply with applicable legal regulations. Frozen funds will be assessed under future court supervision, depending on the progress of the investigation.
*This is not investment advice.
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