$57M in USDC Frozen by Circle Amid LIBRA Token Lawsuit

Circle has frozen two wallets holding $57 million in USDC following a U.S. federal court order tied to a class-action lawsuit involving the LIBRA memecoin. The freeze comes as part of an ongoing legal battle over the controversial token. A court hearing is scheduled for June 9 to determine whether the funds will remain frozen. This move highlights growing legal pressure on projects tied to memecoins, as regulators and courts take a closer look at investor protections.