LIBRA token climbed as high as 137% on August 21 after a U.S. judge ruled to unfreeze $57.6 million in USDC linked to the team.
The decision gave project leaders Hayden Davis and Ben Chow access to their funds again and sparked a sharp move in the token’s price.
Court Order Restores Access to LIBRA Funds
The LIBRA token saw a major price jump after a crucial court decision.
On August 21, U.S. District Judge Jennifer L. Rochon lifted an earlier order that had frozen $57.6 million in USDC belonging to the LIBRA team.
The money was held in two wallets connected to Hayden Davis, chief executive of Kelsier Labs LLC, and Ben Chow, founder of decentralized exchange Mateora.
The freeze had been put in place in June during a lawsuit in which plaintiffs sought more than $100 million in damages.
The plaintiffs argued that the funds should remain locked, but Judge Rochon disagreed.
She said they had not shown evidence of “irreparable harm” and noted that money damages would be e
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