Libra Token's Phantom Wallets Resurface: Solana Acquisition Sparks Legal and Market Debate

Resumption of Wallet Activity: Multiple cryptocurrency wallets linked to the failed Libra meme token have resumed operations, using stablecoins to purchase Solana during market downturns after months of inactivity.

Market Impact and Investor Sentiment: Major investors have significantly increased their Solana holdings, leading to notable market movements and changes in investor sentiment, particularly following the price drop of Solana.

Legal Scrutiny and Ongoing Issues: The wallets are under scrutiny due to their association with the Libra token's collapse and ongoing legal issues, including a class action lawsuit and a U.S. court's involvement in freezing stablecoin assets.

Background on Libra Token Collapse: The Libra token, endorsed by Argentina's President Javier Milei, collapsed in 2025, resulting in over $280 million in losses for traders, with insider wallets withdrawing large sums during the market's decline.