Hayden Davis, a co-founder of the LIBRA cryptocurrency, has filed a motion to dismiss a class-action lawsuit accusing him of misleading investors and siphoning over $100 million.
Davis Files Motion to Dismiss
On Thursday, Davis submitted a motion to a federal court in New York, arguing that the court lacks jurisdiction. The filing states, "Davis does not reside in New York, does not transact business in New York, was not physically present in New York when the allegedly tortious conduct occurred."
LIBRA Project Not Linked to New York
In his defense, Davis asserted that the LIBRA initiative had no direct connection to New York. "The project was conceived of in Argentina," he stated in the court filing, indicating that it was "offered to any buyer worldwide" and not marketed to any specific jurisdiction.
Suspicious Transactions and Associated Parties
In related news, blockchain forensics expert Fernando Molina testified before Congress about significant transfers from wallets linked to Davis. He disclosed that on January 30, the same day Davis met with Argentine President Javier Milei, Davis transferred $507,500 via the Bitget exchange.
The case against Hayden Davis and the LIBRA cryptocurrency continues to evolve, with new details, including financial transactions and associations with high-profile individuals, adding complexity to the matter.
