Stablecoin firm Circle has unfrozen $58 million worth of USDC belonging to Hayden Davis two weeks after a temporary restraining order (TRO), issued as part of his LIBRA court case, was lifted.
This means that Davis, who worked with Argentinian President, Javier Milei, to launch the scandalous LIBRA token, will have full access to do whatever he wants with these funds.
Blockworks’ Senior Data Engineer, Fernando Molina, spotted Circle’s unfreezing today, and noted, “It is clear that Circle did not comply with the request from the Argentine justice system.”
He added, “Despite the fact that the judge had authorized it more than two weeks ago, the change on Solana was only made now.”
Read more: Hayden Davis sent millions in crypto weeks before LIBRA promo
Argentinian developer Maximiliano Firtman said that in the process of the unfreezing, Circle has ignored a request from Argentina’s justice system to block the funds “for reasons we do not know.”
Firtman also suggested that Davis might not do anything hasty with the newly unlocked funds in case it impacts his legal defense in both the US and Argentina.
Milei distanced himself from Hayden Davis’ LIBRA
The launch, which lost millions in investor funds, was dubbed the “Viva La Libertad” project and was publicly launched by Milei as a means to fund small businesses startups.
Milei has since distanced himself from the project while Argentina’s anti-corruption office argued that he wasn’t acting as a government official when promoting the project.
Judge Jennifer Rochon removed the TRO on August 19. At the time, Firtman said that Davis could move the tokens and prove that the LIBRA token launch was never a scam.
The law firm leading the lawsuit against Davis in the US, Burwick Law, reportedly suggested that a possible agreement could be made for Davis to send the tokens to a Viva La Libertad account.