Hayden Davis first admits LIBRA is a speculative memecoin

According to Argentine media Clarín, crypto entrepreneur Hayden Davis recently submitted documents to a US court, for the first time admitting that LIBRA is a Memecoin and denying it is an investment project with a business plan, which contradicts President Javier Milei's previous claim that it would "help the Argentine economy". The report also revealed that on January 30th this year, during a meeting with Milei at the presidential palace, Davis's associated wallet transferred nearly $500,000 in USDC to the centralized exchange Kraken, which is suspected to be related to project fund flows. The case involves approximately $280 million in frozen assets, and the New York court will hold a hearing on August 19th to examine whether Davis and his partners are suspected of manipulating LIBRA and profiting from it.