A US judge has released $57.6 million in USDC stablecoins linked to the Libra token scandal, granting access to memecoin promoter Hayden Davis and former Meteora decentralized exchange CEO Ben Chow. The frozen funds were part of a class-action lawsuit against Davis, Chow, KIP Protocol, and Julian Peh. Davis filed a motion to dismiss the lawsuit in July.

The Libra token scandal, involving Argentine President Javier Milei, led to an ethics investigation and investor lawsuits. The rug pull was considered one of the most significant in history, involving $107 million. Milei distanced himself from the project, denying knowledge and backtracking on his initial promotion of the token.

The Libra token project, aimed at supporting Argentina’s small businesses, quickly collapsed after launch, causing backlash from investors. Milei’s involvement led to a congressional probe for ethics violations. Despite this, the investigation concluded without charges or findings of wrongdoing against Milei.

Read more at CoinTelegraph: Judge Unfreezes $57.6 Million in Stablecoins