The controversy around Token $ Pounda cryptocurrency launched in February 2025, has climbed into international levels with a collective claim that is processed in the federal courts of New York. The case involves thousands of investors who claim to have been victims of “strategically scheduled” fraud, and although the Argentine president Javier Milei It does not appear as formally defendant, its name appears in the file as part of an alleged public legitimation maneuver.
February 14, 2025, Javier Milei He published a message on the social network X (formerly Twitter) in which he promoted the token $ Libra as a tool to finance small ventures.
According to the plaintiffs, that tweet was a “highly misleading promotion” that granted the project a false official support. The publication would have induced “tens of thousands of reasonable consumers” to invest in the cryptoactive, which collapsed a few hours after its launch.
The lawyers Max Burwick and Margaret Hoppin, representatives of the victims, argue that the president’s statement was “strategically planned” to generate confidence in the market and facilitate the collection of funds by the developers of the Token.
The Token was promoted by Hayden Davisfounder of Kelsier Ventures, along with other actors such as Julian Peh (Kip Protocol) and Benjamin Chow (Meteora). The lawsuit accuses these entrepreneurs of having orchestrated a coordinated fraud that raised more than 280 million dollars in a matter of hours.
The funds were deposited in virtual wallets that are now frozen by court order, to a precautionary extent requested by the plaintiffs to avoid their dissipation. The lawyers claim that the defendants used multiple wallets, anonymous networks and rapid transfers to hide the origin and destination of digital assets.
Investigation
It is even mentioned that Davis I would have tried to transfer 500 million tokens $ Pound to an account linked to the “Live La Libertad” project in Argentina, which was interpreted as an attempt to obstruct research.
Federal judge Jennifer Rochon set a hearing for August 19, 2025, in which it will be decided if the freezing of more than 57 million USDC (crypto dollar) retained in two wallets identified as “Libra Wallet 1” and “Libra Wallet 2” is maintained.
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