The US court order has disbanded yesterday the crypto assets of Hayden Davis, creator of the frozen Libra, allowing Davis to move $508 million worth of USDC and another 500 million Libra tokens each month.
Judge Jennifer Locon disbanded the Temporary Restraint Order (TRO) and rejected requests for extension from plaintiffs Omar Harlock and Anuj Meta.
According to Fernando Molina, a senior data engineer at Blockworks, Davis has access to 20.8 million Libra tokens per month, plus the total of his Libra tokens already owned.
He points out that despite TRO removal, USDC is still “technically frozen.”
One Libra Token is worth $0.0094 Currently, 500 million tokens are valued at $4.7 million.
Read more: Hayden Davis sent millions of people in code a few weeks before Libra promotion
Davis also tries to prove his integrity towards the Argentine case
Argentine developer Maximiliano Fartman theorizes that Davis can move the tokens and prove that the launch of Libra tokens is not a scam.
This would also justify the promotional tweet of Javier Milei of Argentina, who claims that Libra will be used to fund small businesses through the “Viva La Libertad” project.
In fact, Berwick Law, the crypto law firm leading the lawsuit against Davis in the US, reportedly suggested that a possible agreement could be made for Davis to send the tokens to his Viva La Libertad account.
Davis also reported that he provided Argentine Judge Maria Serbini 100 million dollar wire transfers Shows honesty and innocence from the profits of the token launch.
Earlier this year, during the Argentina incident, it was discovered that Davis had moved $3.7 million worth of code in the weeks leading up to the release of Mylay’s Libra token.
Recently, it has been found that funds related to Mylay contacts have been moved to avoid freezing orders, and that there is no other individual associated with Mylay.
Discover more from Earlybirds Invest
Subscribe to get the latest posts sent to your email.
