The judge degeate $ 57.6 million in stablecoins

An American judge has not changed $ 57.6 million in USDC (USDC) Stablecoins attached to the scandal of the balance tokens in February, giving the promoter of the same Hayden Davis and former CEO of the decentralized exchange of Meteora Ben Chow Access to the funds.

US JUNGE Jennifer L. ROCHON freeze the funds In May, as part of an audience in a collective appeal against Davis, Chow, the Blockchain Kip Protocol Infrastructure Company and the Co-founder of Kip, Julian Peh.

The judge said that the accused had not demonstrated “irreparable” damage because the funds to reimburse the victims are still available, and the defendants have made no effort to move the frozen funds, according to the Law360.

In July, Davis filed a request in rejection of the prosecution Against him, who was refused as “theoretical” by the court. Despite this, Rochon said that she was doubtful that the collective recourse against Davis, Chow and others succeeded.

The scandal of balance tokens is considered one of the most important prints in history, attracting Argentine President Javier Milei, which prompted a Investigation of ethics on the leader and the collective remedies of investors.

In relation: From Coinbase to Milei and Balance: Cryptographic class courses accumulate

The scandal of the balance tokens and the consequences that have shaken the world of cryptography

The balanced token was launched in February, invoicing as a project to help support small businesses in Argentina and was initially promoted by Milei on social networks.

Balance crashed and burned In the hours following the launch, which caused a generalized reaction of investors who were taken in what was characterized as a traction of $ 107 million.

mercy moved away from the tokendenying knowledge of the fundamental principles of the project and returning to the initial promotion.