Tag: Libra

Libra Scandal Addresses Make A Solana Play

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They say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer…

Libra Scandal Wallets Buy $61.5M In Solana After Draining Memecoin

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Wallet addresses tied to the controversial Libra (LIBRA) token are still pulling money from the failed memecoin and rotating it into other cryptocurrencies despite asset freezes and ongoing fraud investigations. The wallets associated with the Libra token — which was controversially endorsed by Argentine President Javier Milei — have withdrawn nearly $4 million in liquidity from the memecoin to buy the Solana (SOL) dip. After the withdrawal, two cryptocurrency wallets associated with the Libra team acquired $61.5 million worth of SOL at an average price of $135, according to blockchain…

NY Judge Unlocks $58M Crypto Holdings for LIBRA Memecoin Founder Hayden Davis

Key Notes Court ruling enables Davis to withdraw 20.8 million LIBRA tokens monthly plus previously accessible holdings. Argentina case continues as Davis offers $100 million transfer to prove legitimacy of President Milei endorsement. Legal scrutiny remains intense with $58 million USDC technically frozen despite restraining order removal. Jennifer Rochon, a US District Judge in New York, has dissolved the temporary restraining order that had blocked Hayden Davis, creator of the LIBRA memecoin, from moving significant amounts of cryptocurrency. The decision permits Davis to access $58 million worth of USDC alongside…

Latam Insights: Brazil to Debate Controversial Crypto Tax; Libra Probe Sparks New Revelations

Welcome to Latam Insights, a compilation of the most relevant crypto news from Latin America over the past week. In this week’s edition, Brazil is set to debate Lula’s controversial crypto tax, the probe into Libra’s launch offers new revelations, and Nubank has launched a new token-based fidelity program. Brazilian Congress to Debate Lula-Imposed Crypto […] Source CryptoX Portal

LIBRA Mastermind Admits To Memecoin Status In Fraud Trial

Key Notes Hayden Davis admitted that LIBRA was more of a memecoin than a serious business project during the fraud trial. $499,000 transferred from Davis’s wallet during a meeting with Argentine President Milei sparks suspicion. Large crypto transfers before and after the LIBRA launch raise questions about the token’s true purpose. Hayden Davis, the personality behind the controversial LIBRA memecoin scandal, has made a surprising statement in court. During a session in a New York court, he admitted that the token was not designed for any serious business use. Instead,…

LIBRA Token Maker Says Class Lawsuit Lacks Jurisdiction

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The creator of the LIBRA token is seeking to have a New York class-action lawsuit against him dismissed, arguing that the court lacks jurisdiction as the token was offered globally.  Hayden Davis, co-founder of the venture firm Kelsier Ventures, asked a New York federal court to dismiss the class-action lawsuit on Wednesday, alleging the claims don’t arise from actions “directed toward New York.” “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,…

Argentina Anti-Corruption Office Clears Milei Libra

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Argentine President Javier Milei didn’t breach any of his presidential duties when he promoted the Libra memecoin, the country’s Anti-Corruption Office said in a recent decision. In a June 5 resolution, the Anti-Corruption Office said Milei was acting in a personal capacity when he endorsed the Libra (LIBRA) token in a Feb. 14 X post, and therefore, Milei did not violate Argentina’s federal ethics laws for public officials. The decision is significant as Milei’s endorsement supposedly contributed to investors losing a combined $251 million, prompting members of the opposition party…

Libra Case Update: $57 Million Frozen, Investigations Progress

Legal actions against the Libra meme coin, which was shared by Argentina’s President Javier Milei, continue to progress. This week, Circle froze two addresses containing over $57 million in funds, while authorities investigate the involvement of individuals allegedly linked to the meme coin. Libra Probes Advance: Circle Freezes $57 Million, Argentina Scrutinizes Communications The investigations […] Source CryptoX Portal