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- 📢 Gate Square Ambassador Recruitment is Now Open! 🔥
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The Gibraltar court lifted the freezing order on 542 million PLAY Tokens.
According to the Gate.io News bot, Cointelegraph reported that the Supreme Court of Gibraltar recently made a ruling to lift the freeze on 542 million PLAY tokens. The court determined that the evidence for the previous freeze was insufficient and that the freeze measures had a negative impact on the token's value.
The freeze stems from Ready Games' allegations of illegal takeover of the company and assets against its Gibraltar subsidiary and CEO Christina Macedo. The number of frozen Tokens accounts for nearly two-thirds of the total circulation of PLAY tokens, currently valued at about $2.6 million.
Data shows that since its launch in December 2023, the price of PLAY Token has dropped by over 97%.