Tag: Libra

US court freezes $57M USDC allegedly linked to LIBRA scandal

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A US federal court has frozen around $57.65 million worth of the stablecoin USDC in a class action case over the controversial Libra memecoin. Onchain data shared with Cointelegraph by the class group’s lawyer, Max Burwick, shows nearly $57 million worth of USDC (USDC) was frozen on May 28 after a Manhattan court agreed to a temporary freeze. “Yesterday, a federal court in SDNY [Southern District of New York] entered a Temporary Restraining Order at our request, Burwick Law, supported by Tim Treanor, freezing approximately 57.65 million USDC held at…

Javier Milei shuts down task force investigating LIBRA scandal

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Argentine President Javier Milei has dissolved a task force established to investigate the fallout from LIBRA, the scandalous cryptocurrency project the head of state promoted on his social media channel before it crashed to zero.  The Investigative Task Force (ITU) was dissolved via a May 19 decree signed by Milei and Justice Minister Mariano Cúneo Libarona, government documents revealed.  “The Research Task Unit is dissolved” after completing its mandate, the translated version of the decree read. The task force is being dissolved despite pressure from opposition groups, which are seeking…

Argentine Judge Orders Financial Disclosure of President Milei in LIBRA Fraud Case

Argentine federal judge María Servini has ordered banks to disclose President Javier Milei’s and his sister Karina’s financial records as part of a probe into an alleged LIBRA cryptocurrency fraud tied to millions in losses. Argentine President Milei Skips Mediation as Judge Seeks Financial Records in Crypto Scam Local media reports that a federal Judge […] Source CryptoX Portal

Latam Insights: Argentine Congress Takes Aim at Libra, Crypto Now Seizable in Brazil

Welcome to Latam Insights, a compilation of the most relevant crypto and economic news from Latin America over the past week. In this week’s edition, the Argentine lower chamber will investigate Libra’s launch, cryptocurrency can now be legally seized in Brazil, and the Brazilian CBDC pilot, drex, has hit a roadblock. Argentine Congress to Formally […] Source CryptoX Portal

Argentina’s Congress Launches Probe Into LIBRA Fiasco

Key Notes Argentina’s lawmakers approved the formation of an investigative commission into the LIBRA scandal. High-ranking officials, including the economy and justice ministers, will be summoned to testify. Congress has also demanded detailed records from the executive branch regarding the token. Argentina’s Chamber of Deputies has officially opened an inquiry into the LIBRA meme coin scandal. The lawmakers have decided to form an investigative commission and a summons for high-ranking government officials. They have also approved a formal demand for detailed records from the executive branch, according to the press…

Argentine lawmakers back Milei probe in Libra crypto scandal

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Lawmakers in Argentina’s Chamber of Deputies backed an investigation into President Javier Milei’s alleged involvement in the Libra (LIBRA) cryptocurrency scandal. According to an April 8 report by local news outlet Buenos Aires Times, deputies in the lower house voted 128 to 93 in favor, with seven abstentions. The same proposal previously failed to move forward in the Senate. The news follows Milei promoting the LIBRA memecoin on social media. With the Argentine president leveraging his credibility as a government official and his 3.8 million followers, the token quickly reached…

LIBRA memecoin orchestrators named as defendants in US class-action suit

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Update March 18, 6:42am: This article has been updated to reflect that Cointelegraph reached out to KIP Protocol and Meteora. The Libra token scandal is set to be reviewed by the Supreme Court of New York after a newly filed class-action lawsuit accused its creators of misleading investors and siphoning over $100 million from one-sided liquidity pools. Burwick Law filed the suit on behalf of its clients against Kelsier Ventures, KIP Protocol and Meteora on March 17 for launching the Libra (LIBRA) token in a “deceptive, manipulative and fundamentally unfair”…

Libra, Melania creator’s ‘Wolf of Wall Street’ memecoin crashes 99%

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The creator of the Libra (LIBRA) token has launched another memecoin with some of the same concerning onchain patterns that pointed to significant insider trading activity ahead of the coin’s 99% collapse. Hayden Davis, the co-creator of the Official Melania Meme (MELANIA) and the Libra token, has launched a new Solana-based memecoin with an over 80% insider supply. Davis launched the Wolf (WOLF) memecoin on March 8, banking on rumors of Jordan Belfort, known as the Wolf of Wall Street, launching his own token. The token reached a peak $42…

Hayden Davis Faces Interpol Alert For Role In LIBRA Memecoin

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Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. An Argentine prosecutor has requested a judge to issue an Interpol “Red Notice” for Hayden Davis, an American citizen allegedly involved in the launch of the controversial LIBRA memecoin…

Lawyer Requests Interpol Red Notice For Libra Founder Hayden Davis: Report

A lawyer in Argentina has requested an international arrest order for Hayden Davis, the founder of memecoin LIBRA, Buenos Aires newspaper Pagina 12 reported on Thursday. Attorney Gregorio Dalbon raised the procedural risk of U.S. citizen Davis remaining at large and of his financial resources allowing him to stay in hiding, according to the report. The lawyer therefore requested that “the international arrest of Davis be ordered and that an Interpol red notice be issued in order to locate and arrest him, with a view to his extradition,” in a…