Circle has frozen two Solana wallets linked to LIBRA token developers, holding a total of $57.65M USDC.
The fund freeze followed a court order amid allegations of LIBRA insiders controlling 70% of its supply.
Circle has just frozen two wallets on the Solana network. Both are directly linked to the development team of the meme token LIBRA, a project that caused a stir in early 2025. A total of $57.65 million in USDC was recorded as being involved in the fund freeze.
JUST IN: @circle freezes $57.6 million worth of $USDC connected to the $LIBRA team. pic.twitter.com/ilUy9FYG83
— SolanaFloor (@SolanaFloor) May 28, 2025
Behind LIBRA’s Hype: A Court Order, Frozen Funds, and Broken Trust
Circle’s decision came after a federal court in Manhattan issued a temporary restraining order. The legal action arose from a class action lawsuit from investors against Kelsier Ventures and its founders, who were later revealed to control the majority of the LIBRA token supply.
The token itself h
