A United States judge has unfrozen $57.6 million in stablecoins linked to the promoters of the failed Libra token. The Libra token, which launched in February, billed itself as a project to support Argentina's small businesses. However, the project collapsed within hours of its launch.

The Libra token scandal is considered one of the most significant rug pulls in history. The token's failure prompted widespread backlash from investors who were caught up in what was characterized as a $107 million rug pull.

Argentine President Javier Milei initially promoted Libra on social media. Following the token's crash, Milei distanced himself from the project, denying knowledge of its fundamentals and backtracking on his initial promotion. Milei stated he had no connection to the venture.

The situation led to a congressional probe into Milei for possible ethics violations and calls from Argentine lawmakers to impeach him. However, Milei closed the investigation and disbanded the task force without any charges or findings of wrongdoing against the president's office, leading to allegations of a politically motivated cover-up.

The judge cited ongoing cooperation of the defendants in the case as one of the reasons for unfreezing the stablecoins. The judge stated that the defendants did not demonstrate "irreparable" harm because the funds to reimburse victims are still available, and the defendants have made no effort to move the frozen funds. In July, a motion to dismiss the lawsuit against one of the defendants was denied as "moot" by the court. Despite this, one legal expert expressed doubt that the class-action lawsuit against the defendants would succeed.