Kelsier Ventures CEO testifies in New York regarding LIBRA case, insists he has no connection to the project

PANews reported on June 30 that Cryptoslate quoted Argentine media La Nacion as saying that the latest developments in the legal dispute over Libra tokens showed that Hayden Mark Davis, CEO of Kelsier Ventures, submitted a voluntary statement to a federal court in New York last Monday. The core of the case is a class action lawsuit filed by US investors who suffered losses after the controversial Libra token rose rapidly and then plummeted.

Hayden Mark Davis strongly denies any allegations of fraud, insider trading or other wrongdoing. Instead, he blamed the sudden drop in token prices on Argentine President Javier Milei's deletion of a social media post supporting LIBRA. Hayden Mark Davis said that Javier Milei's tweet initially boosted interest and investment in the project, but the subsequent deletion of the tweet sparked rumors and accusations that LIBRA was a scam, and Hayden Mark Davis insisted that these claims were false.

Hayden Mark Davis described LIBRA as a project aimed at supporting small businesses and educational projects in Argentina, rather than a pump-and-dump scam to defraud investors. He stressed that he was not aware of any "snipers" (individuals who allegedly bought large quantities of LIBRA tokens before their release and profited from them), and denied that he had ever participated in such activities.

Hayden Mark Davis also attempted to challenge the jurisdiction of the New York federal court, arguing that he had no residence or business activities in New York and that the project was conceived and executed in Argentina. He suggested that any legal proceedings should be conducted in the Argentine courts. Of particular note in Hayden Mark Davis' statement was his proposal to return approximately $100 million in investor funds, which he reportedly transferred between February 14 and 15, 2025. However, the plan was blocked by a U.S. court order freezing more than $55 million in crypto assets.