• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

LIBRA Creator Files for Dismissal of New York Class Action Lawsuit

user avatar

by Giorgi Kostiuk

6 hours ago


Hayden Davis, co-founder of Kelsier Ventures, has filed a motion to dismiss a class action lawsuit against him in New York, arguing that the court lacks jurisdiction.

Case Against LIBRA Token and Court Jurisdiction

Davis submitted a motion to a New York federal court, asserting that the claims do not arise from actions directed at New York. He does not reside, nor conduct business in New York.

Arguments Presented by Davis

Davis contends that the LIBRA tokens were offered to all buyers globally and that the promotion of the cryptocurrency was not aimed at New York residents, which supports his argument regarding the insufficiency of jurisdiction.

Issues Surrounding LIBRA Token

The LIBRA token generated controversy after it fell 94% from a market cap of $4.6 billion. A group of buyers has sued the creators, alleging misleading information about the token's purpose to support Argentina's economy.

The lawsuit against Davis remains in the spotlight as the plaintiffs must prove their allegations are connected to New York, while Davis seeks to have the case dismissed without prejudice.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

Other news

Aptos Labs Appoints Solomon Tesfaye as New Chief Business Officer

chest

Solomon Tesfaye has been appointed CBO of Aptos Labs as the company achieves new milestones in asset tokenization.

user avatarGiorgi Kostiuk

YZi Labs: A New Era in Investment and Technology

chest

YZi Labs, the successor of Binance Labs, aims for innovation in Web3, AI, biotechnology, and more.

user avatarGiorgi Kostiuk

XRP: Breakthrough at $2.50 Ignites Investor Optimism

chest

XRP breaks through the $2.50 level, sparking optimism in the market and investor activity.

user avatarGiorgi Kostiuk

Crypto Market: ETH/BTC Shows Growth Signals

chest

ETH/BTC has turned bullish, potentially indicating the start of an altcoin season.

user avatarGiorgi Kostiuk

Hafu Securities and Potential SFC Approval: Implications for Hong Kong

chest

Hafu Securities may have secured SFC approval for virtual asset trading, which could impact Hong Kong’s status in this domain.

user avatarGiorgi Kostiuk

Surge in Interest for Ethereum ETFs: What Does the Billion Dollar Inflow Mean?

chest

Ethereum ETFs in the U.S. recorded a historic inflow of $383.1 million, indicating growing interest from institutional investors.

user avatarGiorgi Kostiuk
dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.