A significant legal case involving the collapsed memecoin LIBRA has frozen nearly $57.65 million in USDC, a stablecoin connected to the cryptocurrency’s downfall. This incident highlights concerns about crypto accountability and raises questions about regulatory measures for decentralized finance (DeFi). 💰 Circle, the issuer of the USDC stablecoin, is now facing scrutiny over its role in this case, as it frozen the funds tied to the fallen LIBRA token on May 28th following a court order. The freezing comes as part of a class-action lawsuit filed by Burwick Law on behalf of investors who allege that the Libra token was launched through a pump-and-dump scheme. This action sparked political controversy in Argentina, where the initial rise and subsequent crash of the token caused considerable turmoil and ignited debate about the role of decentralized finance (DeFi). 🇦🇷 The case has been thrust into the spotlight as the legal battle continues. ⚖️ On-chain data by Arkham Intelligence reveals that two Solana wallets – one holding $44.59 million, and the other over $13 million – were frozen on May 28th by Circle’s multisig authority following a court order from the Southern District of New York (SDNY). 📍 The freeze is part of an ongoing legal battle that could set important precedents for the future regulation of cryptocurrencies. Meanwhile, the case has sparked conversations about regulatory frameworks and the potential impact on crypto markets.