According to the Argentine press, cryptocurrency entrepreneur Hayden Davis made an important confession in the ongoing Libra incident in the US.
In a document filed in federal court in the Southern District of New York, Davis acknowledged that the token, known as Libra, is merely a memo coin and not an investment vehicle. The admission was interpreted as a change in strategy ahead of the August 19 hearing, which determined the fate of $280 million in frozen assets.
Another impressive detail of the scandal came on January 30th at a meeting with Argentine President Javier Mairei at Casarosada. This was determined to have been transferred to Kraken Exchange about $500,000 in USDC from a wallet associated with Davis.
The case in question came to the fore after a sudden surge in price for the Libra Token and crashed during the launch. Tokens are one of the projects Javier Milei indirectly supports on social media. However, the rapid rise and value of tokens within hours caused losses to many investors.
Price list for Altcoin, which once had a market capitalization of over $200 million.
In addition to Hayden Davis, the lawsuit nominates Meteora Platform co-founder Benjamin Chow and KIP Protocol executive Julian Peh as defendants. The lawsuit was launched by individual investor Omar Hallock. Last week, Hurlock’s lawyers forced the defendant to provide further information about the case, demanding that the “discovery” process begin, but Judge Jennifer L. Rochon refused the request.
Last Thursday, things escalated even further with a counterattack from Davis. In a 30-page defense application obtained by Clarin, Davis argued that Harlock’s allegations were unfounded and that Harlock did not present any concrete evidence of the harm. Davis’ attorney said, “The plaintiff cannot even prove he is a direct victim. He is trying to file a class action lawsuit without showing any damage to him.”
*This is not investment advice.
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