LIBRA token climbed as high as 137% on August 21 after a U.S. judge ruled to unfreeze $57.6 million in USDC linked to the team.
The decision gave project leaders Hayden Davis and Ben Chow access to their funds again and sparked a sharp move in the token’s price.
Court Order Restores Access to LIBRA Funds
The LIBRA token saw a major price jump after a crucial court decision.
On August 21, U.S. District Judge Jennifer L. Rochon lifted an earlier order that had frozen $57.6 million in USDC belonging to the LIBRA team.
The money was held in two wallets connected to Hayden Davis, chief executive of Kelsier Labs LLC, and Ben Chow, founder of decentralized exchange Mateora.
The freeze had been put in place in June during a lawsuit in which plaintiffs sought more than $100 million in damages.
The plaintiffs argued that the funds should remain locked, but Judge Rochon disagreed.
She said they had not shown evidence of “irreparable harm” and noted that money damages would be enough if the case succeeded.
In her comments, Judge Rochon added that she was doubtful the plaintiffs’ case would hold up in court.
However, she pointed out that the case was still in its early stages. With the ruling, Davis and Chow regained control of the wallets, which contained $13.06 million and $44.59 million.
Lawyers for Davis welcomed the decision, saying it confirmed their view that the case lacked strong grounds.
The ruling also meant the team could again move or use the funds, although blockchain records showed the assets had not yet been transferred out of the wallets.
LIBRA Price Soars After Ruling
The news quickly filtered into the market and drove LIBRA’s token price sharply higher.
According to CoinGecko, the token rose 137% within 24 hours to reach $0.02088899 as of writing.
The move came after a long period of low activity and signaled renewed interest among traders.
The price chart showed a steep climb from below $0.01 as volumes surged. This rally suggested that the legal outcome was the direct trigger for the move.
Traders responded by buying in as the news spread across platforms and social media.
For some observers, the rally reflected fresh confidence after weeks of uncertainty.
Others noted that the sudden gains might also invite higher volatility. The $57.6 million that had been frozen was still sitting in the wallets.
Similarly, traders were expected to watch closely for any future transfers.
The sharp move also put LIBRA back in focus among meme tokens, which often trade on quick news and speculation rather than long-term fundamentals.
Market attention is now on whether the token can hold its gains or if the price will settle lower once the initial reaction fades.
New Token Buzz: YZY Gains Spotlight
While LIBRA made headlines with its price surge, another token entered the spotlight.
On-chain reports showed that rapper Kanye West (Ye) launched the YZY token, drawing quick attention from traders.
The token began trading without USDC in its liquidity pool, raising comparisons with LIBRA’s setup.
Data from Lookonchain revealed that one insider wallet, marked as 6MNWV8, made a major trade.
The wallet spent 450,611 USDC to buy 1.29 million YZY tokens at $0.35.
Later, it sold 1.04 million YZY for $1.39 million, leaving 249,907 YZY worth around $600,000.
The profit from the trade was more than $1.5 million. This activity suggested that some insiders may have known details about the token’s launch ahead of time.
Multiple wallets were also seen preparing funds in advance, and they bought as soon as YZY was released.
Source: https://www.thecoinrepublic.com/2025/08/21/why-is-libra-token-up-137-today/
