<ul><li>A US federal court has frozen approximately $57.65 million in USDC linked to the embattled LIBRA meme coin due to an ongoing class-action lawsuit alleging fraud.</li><li>The court order, issued on May 28 in the Southern District of New York, impacts two Solana-based wallets associated with Kelsier Ventures, the firm behind LIBRA's controversial launch.</li><li>The lawsuit accuses Kelsier Ventures' co-founders and others of orchestrating a scheme that deceived investors through liquidity pools, resulting in a loss of over $100 million.</li><li>The frozen wallets, holding over $44 million and $13 million, were seized through Circle's infrastructure, with a hearing scheduled on June 9 to determine the continuity of the freeze during the legal proceedings.</li></ul>

LIBRA Token Fallout: Court Blocks $57.65M in USDC Linked to Kelsier Ventures

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