An American judge was discharged of $ 57.6 million in Stablescoins USDC (USDC) linked to the Balance token scandal in February, giving the promoter of the same Hayden Davis and former CEO of The Meteora Decentralized Exchange Ben Chow Access to the Funds.
American judge Jennifer L. Rochon froze the funds in May as part of an audience in a collective appeal against Davis, Chow, the Blockchain Kip Protocol infrastructure and the co -founder of Kip, Julian Peh.
The judge said 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 frozen funds, according to Law360.
In July, Davis filed a request for rejection of the prosecution against him, which was rejected 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 the Argentinian president Javier Milei, which prompted an ethical investigation into the leader and the collective remedies of investors.
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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.
The balance crashed and burned in the hours following the launch, which caused a generalized game of investors who were taken in what was characterized as a traction of $ 107 million.
Milei moved away from the token, denying knowledge of the fundamental principles of the project and returning to the initial promotion.
“A few hours ago, I posted a tweet, like so many times countless times, supporting a supposed private adventure with which I obviously have no link,” wrote Milei in a post of February 14 x.
The declaration did not do much to stem an investigation by Congress into Milei for possible ethics violations and calls from Argentinian legislators to dismiss Milei.
However, Milei closed the investigation and dissolved the working group without any accusation or conclusion of reprehensible acts against the president’s office, which caused allegations of politically motivated concealment.
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