Circle Freezes $58M USDC in Libra Scandal 🛑

Circle, a stablecoin issuer, has frozen two wallet accounts involved in the Libra memecoin scandal, totaling $57.6 million in USDC. One wallet holds $44.59 million, while the other, Libra's deployer wallet, has $13 million. Stablecoin issuers like Circle can restrict transactions during urgent situations or investigations. However, it's unclear who initially requested the freeze, causing online debates. Burwick Law claimed a New York court ordered the freeze, but Martin Romeo, linked to the Argentine Libra token case, said it stemmed from local legal actions. The Solana-based Libra token gained fame through Argentinian President Javier Milei but crashed after peaking. Despite his initial promotion of the token for aiding small businesses, Milei later retracted support amid a value collapse. Hayden Davis allegedly paid Milei's sister for his endorsement. Fraud charges against Milei followed, though he denied misconduct. Currently, legal investigations continue, with Milei's bank accounts previously requested for unsealing. Notably, Argentina's probe into the Libra scandal has now ceased.