Overview
- On July 26 in the Southern District of New York, Hayden Davis conceded that LIBRA was created purely as a memecoin with no serious business purpose.
- Davis’s admission could strongly influence judicial rulings over $280 million in assets that have been frozen pending the August 19 hearing.
- Court filings show Davis-linked wallets moved $499,000 and $507,000 in USDC to exchanges during his January 30 meeting with President Javier Milei at Casa Rosada.
- LIBRA’s February 14 launch saw its value soar to a market cap above $200 million before crashing and inflicting heavy losses on early buyers.
- President Milei’s endorsement of the token has led Argentina’s anti-corruption office to open an investigation and fueled impeachment calls.