SAN FRANCISCO — A federal judge on Tuesday turned back a bid by an investor to temporarily freeze $1 billion worth of cryptocurrency and funds tied up in the blockchain startup Tezos.
U.S. District Judge Richard Seeborg of the Northern District of California, who is overseeing a group of related lawsuits against the Swiss Foundation and California startup behind Tezos’ initial coin offering (ICO), said that lawyers for Tezos investor Bruce MacDonald had failed to show that he’d be irreparably harmed without a temporary restraining order freezing funds.
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