Hayden Davis, the creator of the Libra token, has now described the cryptographic project as Memecoin in a recent court submission as part of a legal strategy to counteract a collective claim. American Crypto Entrepreneur and Marketer still draws negative attention and remains in the study after the highly dubious premiere and weight of the weight in February 2025.
Davis’ Clash with an American private investor Force Libra Memecoin Introduction – Report
The Libra project gained great popularity after public promotion by the Argentine President Javier Milei at X, February 14, 2025. The value of the cryptographic token increased to USD 5 within a few hours after its launch, before it dropped to almost 0 USD. Since then, the leader of the nation has distanced himself from a cryptographic project, and even allowing the event in the event of an event by the National Anti -Corruption Bureau.
According to local Argentine media ClariumOmar Hurlock, a private American investor, through the American law firm Burwick Law, since then began a collective lawsuit against Hayden Davis and other people standing behind Leba, including Benjamin Chow, co -founder of the Meteor platform, and Julian Peh, head of the KIP protocol.
In a 30-page defense against Hurlock’s claims, Hayden Davis finds out that the American investor has no evidence of complaints about buying tokens from him or other creators of the cryptographic project. In particular, Davis attacks Hurlock’s credibility to conduct a collective action in the event that he is not a direct victim.
In addition, a cryptographic entrepreneur also publicly applies to Libra as Memecoin for the first time since the incident in February. Before this statement, the cryptocurrency was previously described by all parties involved as an investment fund addressed to the financing of Argentine companies.
By assigning the importance of memecoin status, the defendant emphasizes the speculative nature of this token, while claiming that no promises were made for potential investors. A statement of brief sound:
The accused did not provide any plans, details or infrastructure to potential Memecoin buyers, nor did they provide detailed information about the disclosure or information about tokenomic distribution regarding how raised funds will be assigned to meet [allegedly] Promised economic initiatives
The case was currently submitted to the District Court for the Southern District of Novel York under the reign of judge Jennifer L. Rochon I is scheduled for the trial on August 19. It is also expected that the result of this process will also affect the status of $ 250 million of frozen assets, which are associated with profits from the Libra project.
Price review
During the press, Libra trades at 0.01690 USD with a total market capital worth USD 4.61 million.
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