The LIBRA digital currency is back in the limelight after months of silence following its contentious launch in February, backed by the Argentine president . The meme token outperformed the crypto market over the past 24 hours with significant price actions. The sudden price surge surfaced after a Manhattan federal judge ordered the release of $57.6 million in USDC tied to the meme project. Crypto News Hunters 🎯 @CryptoNewsHntrs · Follow ⚡️BREAKING: ASSETS WORTH $57.6 MILLION IN USDC TIED TO THE LIBRA MEME COIN SCANDAL HAVE BEEN UNFROZEN BY A MANHATTAN FEDERAL JUDGE. LIBRA PROMOTERS HAYDEN DAVIS AND BEN CHOW REGAIN ACCESS AFTER COMPLYING WITH COURT PROCEEDINGS. ⚖️💰 #LIBRAMEMECOIN #USDC #COURTRULING 9:12 am · 21 Aug 2025 5 Reply Copy link Read 1 reply LIBRA spiked from $0.009586 to $0.01954 hours after the legal updates. That meant an approximately 103% explosive gain. The coin has cooled to hover at $0.01180 during this writing, up 24% on its daily chart. The judge unfreezes $57.6M in USDC tied to Libra The Libra scandal was among the highly followed lawsuits in the blockchain space this year. It saw a massive development on Tuesday after Judge Jennifer L Rochon lifted the freeze. The official announcement highlighted: A Manhattan federal judge on Tuesday denied injunctive relief for plaintiffs seeking over $100 million in damages over losses they took backing the cryptocurrency project Libra, saying she would dissolve an earlier asset freeze restraining two individual defendants who no longer seem at risk of dissipating assets. Notably, the same judge previously froze the assets in June amidst the plaintiffs’ effort to recover financial damages worth over $100 million. President Javier Milei faced impeachment threats as many trusted his endorsement of LIBRA as an asset for financial freedom, which magnified investor losses. In June, plaintiffs speculated that the Meteora founder, Ben Chow, and Kelsier Labs CEO Hayden Davis could hide or move funds linked to LIBRA. That triggered the freeze. Meanwhile, the judge lifted the freeze this week, adding that Chow and Davis have complied with all legal orders. She stated that the $44.59 million and $13.06 million remained unaltered in two separate wallets. Plaintiffs’ winning chances dwindle The probability of plaintiffs winning the LIBRA legal battle plummets with time. The Argentine Anti-Corruption Office cleared Javier Mile of wrongdoing in his LIBRA involvement in June. Meanwhile, Judge Rochon made a crucial observation when releasing the held funds. She remains sceptical that plaintiffs will succeed. That suggests a possible uphill battle for investors seeking compensation. LIBRA price outlook The meme cryptocurrency recorded notable fluctuations in the past 24 hours. The legal news catalysed a sharp 103% rally to $0.01954. LIBRA hovers at $0.01180 after retracing from the daily peaks. Chart by CoinMarketCap It exhibits upside momentum, but magnified trading volumes remain essential for sustained rallies. LIBRA’s long-term potential remains tied to the legal developments. Legal clarity could attract more investors and support the altcoin’s recovery. Moreover, the $280 million in losses dented the project’s appeal. A plaintiff’s loss could further damage sentiments and limit the token’s comeback. Libra has lost around 98% of its value from its February 2025 all-time high. The post LIBRA price skyrockets as judge unfreezes $57M linked to the meme coin appeared first on Invezz
