Overview

• U.S. District Judge Jennifer L. Rochon dissolved a freeze on $57.6 million in USDC tied to wallets controlled by Hayden Davis and Ben Chow.
• The assets were initially locked in a putative class action seeking more than $100 million over losses tied to the February LIBRA token collapse.
• The ruling authorizes structured access, including monthly transfers of LIBRA tokens, after the court found the defendants had complied with orders.
• Rochon signaled skepticism about the plaintiffs’ likelihood of success as defense counsel prepares a motion to dismiss.
• A bid by named investors to extend the asset freeze was rejected, and proceedings continue following President Javier Milei’s earlier promotion of the token.