Overview

• U.S. District Judge Jennifer L. Rochon ended a restraint on $57.6 million in USDC tied to wallets controlled by Hayden Davis and Ben Chow in the LIBRA class-action case.
• Rochon said the defendants were not acting as evasive actors and that money damages could compensate the putative class, signaling skepticism about the plaintiffs’ likelihood of success at this stage.
• The previously frozen wallets continue to hold roughly $13.06 million and $44.59 million in USDC, and the broader lawsuit seeking more than $100 million remains in its early phase.
• News of the ruling triggered a sharp rebound in LIBRA’s price, with one report citing an intraday jump approaching 400% alongside higher trading volumes.
• The case stems from February’s LIBRA launch and rapid collapse after promotion by Argentina’s President Javier Milei, with defense lawyers calling the suit meritless and plaintiffs preparing further filings.