USDC and $LIBRA Don Freeze for Pump-and-Dump Scandal Wey Connect to Argentina Political Support
One court for America don tell Circle say make dem freeze over $57 million wey be USDC wey dem suspect say na from one scheme wey dem call pump-and-dump, wey involve $LIBRA token. Dem promote this token with open support from Argentina President Javier Milei. $LIBRA come burst reach $4 billion market cap before e fall 90%, make investors lose plenty money and cause wahala for politics. The lawsuit, wey Burwick Law carry for behalf of investors wey dem affect, don target Kelsier Ventures, CEO Hayden Davis, hin family members and the platform Meteora. Dem say dem do fraud marketing and manipulate things from inside, even hide token supply from public. Dem say the project dey support small businesses for Argentina, but investors dey claim over $100 million loss after dem dump tokens. The USDC wey dem freeze—around $57.65 million—dem believe say na money wey dem make from the scheme. Circle follow court order, freeze the money for two Solana wallets. Davis still dey under investigation for Argentina for another wahala wey involve $MELANIA but dem never arrest am. The next court hearing go be June 9, and e fit be say the freeze go continue. This case show say dem dey watch meme coin launches well well now, especially those wey get connection with celebrities or politicians, and e be warning for crypto traders say risk still dey.
Bearish
Di court don order make dem freeze over $57 million wey be USDC, wey connect to one big pump-and-dump scheme wey involve $LIBRA token. Dis one show say $LIBRA and projects wey relate to am get serious bad name and wahala for court. As di token price fall after Argentina President Milei support am and investors go court, e show say meme coins no dey stable and insider pipu fit manipulate am, plus government fit come in. Wetin go happen sharp-sharp na say $LIBRA go lose money, pipu go still dey feel bad about am, and government fit come down heavy on projects like am. All dis make di future for $LIBRA no good, both for short and long time. Dis event fit also set example for more serious court cases against tokens wey dem dey market anyhow.