PANews reported on May 29 that according to Decrypt, stablecoin issuer Circle recently froze two Solana wallet addresses related to the Libra token team, involving about 58 million USDC. Blockchain browser Solscan shows that the frozen addresses hold 44.59 million and 13.06 million USDC respectively.

The freeze stems from a legal dispute over the meme coin Libra. The token soared to billions of dollars in market value after Argentine President Javier Milei promoted it in February, then plunged 90% and was accused of being a pump-and-dump scam. The crypto-focused Burwick law firm said the freeze was requested in response to a temporary restraining order it applied for, while the plaintiff in the Argentine lawsuit, Martin Romeo, said the freeze was initiated by the Argentine judiciary.