Law firms seek Libra investors for potential litigation over Milei-backed Solana Token

The New York-based law firm Libra The meme coin scandal involving Argentine President Javier Mairay has pushed forward a potential lawsuit against the creators and supporters of the Solana-based token.

Treanor Law Firm Since its famous February launch, it has been investigating Argentina-related tokens and believes allegations of fraud, market manipulation and assault are valid. Libra investors’ connections are the next step in this investigation ahead of future litigation.

The Viva La Libertad Project and its Libra Token began on February 14th. It was branded as a project aimed at boosting the Argentine economy to fund small businesses. This helped that Solana Token Garner Promotion from the Country President Javier Mileyadded more legitimacy to the project as the project skyrocketed to a market capitalization of $1.17 billion.

But all this fell. The price of the token crashed 97% that day as Milei deleted his X-post and claimed he didn’t know the origin of the token.

“We’ve seen this from the beginning,” says Trenor’s law firm, managing Principal Tim Trenor. Decryption. “However, there are three areas of research that I find most interesting. One of them is the expression that could have been induced to investor to buy Libra coins.”

The President of Mercy Token has been promoted In his X account, in a deleted post, the “private project” claims that “it is dedicated to promoting the growth of the Argentine economy by funding small Argentine businesses and startups.” This vision has not been unfolded yet.

Immediately after release, The president was hit with fraud charges About his involvement in Argentina. Later Murray I denied these allegationswho acted “honesty” and claimed that he had no prior knowledge of the project before sharing with millions of followers.

At the helm was Hayden Davis, CEO of Kelsie Venture. statement The official president of the Argentina X Account claimed. David also includes Marisio Novelli and Manuel Godoy from the Argentine Tech Forum. I was involved In the project, their exact role is unknown.

Treanor is in the preliminary stage and therefore does not name any individual or organization considered part of the investigation.

“Separately, there is another set of questions about the actual sales and trading of coins,” explained Trenoa.

In an interview with the famous YouTube Sleuth Coffee GillaDavis openly admitted the “sniper” Libra, referring to how to quickly purchase tokens immediately after firing, as he claimed it was done to stop other snipers.

Treanor explained that the company needs to talk to investors and understand where most victims are between these two frauds and market manipulation. On the one hand, some buyers may be “playing the game” of meme coin trading and are only concerned about allegations of market manipulation.

But others may truly believe that tokens are used as a force for good in Argentina.

“It’s important for us to connect with more people who have lost their money and know what their motivation is,” Trenner said. Decryption.

Trenor was a lawyer for nearly 30 years, including over 16 years, at Sidley Austin LLP, a major law firm that previously employed former President Barack Obama and the current Vice President JD Vance. During this time, Representative of the Football Association Concacaf And the affected members have recovered $2 million worth of funds It had to do with corruption schemes.

Treanor said he set up his own law firm to bring his financial crime expertise to crypto, fintech and traditional finances. He believes there are valid use cases in cryptography, but he hopes that it will bring about a change in the industry with a prominent malicious activity that is “not good for everyone.”

Previous research into Libra has determined that over 75,000 wallets have lost money in tokens, resulting in a total of more than $280 million in losses. But this may be just the tip of the iceberg.

As a third area of ​​interest, the company investigates assault violations that suggest patterns of criminal conduct carried out by individuals or groups. This is criminal law, but it includes provisions that allow victims to file civil claims to win three times more damages.

The release of Libra was tied up by an analytics company to the launch of Melania, the official meme coin for our first lady Melania Trump. Bubble map use On-chain data. This opened the public’s eyes to the potential influence that Kelsier and other Libra actors may have had within our project.

“Is there a group here that was opposed to the law in a broader sense? Did it include other coins?” Trenor said. “There were allegations of bribery and other matters that were not merely allegations of fraud.”

“There are a lot of facts out there,” he added. “Whether it’s reliable or not, the court will probably decide that one day.”

Edited by Andrew Hayward