Gibraltar court ends 2-month freeze of 542M PLAY tokens amid legal dispute
The Supreme Court of Gibraltar has lifted a freeze on 542 million PLAY tokens, reversing a previous decision due to concerns that the freeze could harm token value and insufficient evidence for its continuation. The tokens represent nearly two-thirds of the circulating supply, valued at approximately $2.6 million, and have seen a price drop of over 97% since launch. The legal dispute involves US-based Ready Makers and its founder, David Bennahum, against its Gibraltar subsidiary, Ready Maker (Gibraltar) Limited, and CEO Christina Macedon. Ready Games claims Macedon unlawfully took control of the firm and its assets. Judge Restano criticized the evidence presented by Ready Games as lacking and noted their failure to disclose administrative dissolution during the freeze request. Bennahum plans to appeal the decision and has filed an urgent application for a new injunction. He asserts that Ready Maker was created as a token launch vehicle using Ready Games' resources.
