A US federal court has frozen around $57.65 million worth of the stablecoin USDC in a class action case over the controversial Libra memecoin.
Onchain data shared with Cointelegraph by the class group’s lawyer, Max Burwick, shows nearly $57 million worth of USDC (USDC) was frozen on May 28 after a Manhattan court agreed to a temporary freeze.
“Yesterday, a federal court in SDNY [Southern District of New York] entered a Temporary Restraining Order at our request, Burwick Law, supported by Tim Treanor, freezing approximately 57.65 million USDC held at Circle,“ Burwick told Cointelegraph.
He added that the court is scheduled to hold a hearing on June 9 to determine whether the assets will remain frozen as the class-action lawsuit progresses.
Burwick is representing Omar Hurlock and other plaintiffs in a class-action suit against crypto venture firm Kelsier Ventures and its three sibling co-founders,