US Court Freezes $57M in USDC Tied to Libra Scandal

A U.S. federal court has frozen approximately $57.65 million in USDC, the stablecoin linked to cryptocurrency firm Circle, as part of a class-action lawsuit alleging fraud by crypto venture firm Kelsier Ventures and its co-founders. The lawsuit, filed on March 17th by plaintiff Omar Hurlock and others, claims the trio created Libra (LIBRA), a now-debunked cryptocurrency, and misled investors for over $100 million from one-sided liquidity pools.