Stablecoin Firm Circle Unfreezes $58 Million in USDC for Hayden Davis
After two weeks of a temporary restraining order being lifted in his LIBRA court case, stablecoin firm Circle has unfrozen $58 million worth of USDC belonging to Hayden Davis. This means that Davis, who previously worked with Argentinian President Javier Milei to launch the scandalous LIBRA token, now has full access to these funds.
Blockworks’ Senior Data Engineer, Fernando Molina, discovered Circle’s unfreezing today and pointed out that Circle did not comply with the request from the Argentine justice system. Despite the judge authorizing the unfreezing more than two weeks ago, the change on Solana was only made recently.
Argentinian developer Maximiliano Firtman expressed concern that Circle ignored a request from Argentina’s justice system to block the funds for unknown reasons. Firtman also suggested that Davis may proceed cautiously with the newly unlocked funds to avoid affecting his legal defense in both the US and Argentina.
Milei Distances Himself from LIBRA Project
The LIBRA project, which saw significant losses in investor funds, was launched as the “Viva La Libertad” initiative by Milei to support small business startups. However, Milei has since distanced himself from the project, and Argentina’s anti-corruption office clarified that he was not acting as a government official when promoting LIBRA.
Judge Jennifer Rochon lifted the TRO on August 19, allowing Davis to move the tokens and potentially demonstrate that the LIBRA token launch was not a scam. The law firm leading the lawsuit against Davis in the US, Burwick Law, proposed the possibility of an agreement for Davis to transfer the tokens to a Viva La Libertad account.
Read more: Hayden Davis sent millions in crypto weeks before LIBRA promo