Gibraltar’s top court has unfrozen nearly two-thirds of the circulating supply of PLAY tokens after finding there was insufficient evidence to continue the freeze.
The Supreme Court of Gibraltar has reversed its decision to freeze 542 million PLAY tokens in a court battle between two companies tied to the Web3 game-creation platform PLAY Network.
In an April 17 judgment, Gibraltar Supreme Court Judge John Restano undid his earlier February freeze of the tokens, finding it could have hurt the value of the tokens and that the evidence filed was insufficient to continue the freeze.
“Whilst there may be many reasons for the drop in value of the tokens, the evidence before the court suggests that these proceedings are a factor in that regard,” he wrote.
