Legal Firm Seeks Libra Traders for Possible Legal Action Against Milei-Backed Solana Token

A New York-based law firm has urged victims of the Libra ( LIBRA ) meme coin scandal, in which Argentine President Javier Milei was involved, to move forward in order to file a lawsuit against the token’s creators and supporters.

Since the controversial Argentina-linked token’s high-profile start in February, The Treanor Law Firm has been conducting research into the matter, and it thinks that the allegations of fraud, market manipulation, and criminal may hold up. The next step in this analysis is to get in touch with Libra traders, just in case any litigation comes up next.

The Viva La Libertad Project and its LIBRA coin were launched on February 14 and are billed as initiatives meant to boost the Brazilian market by looking to finance small businesses. This gave the Solana gift more credibility as it soared to a$ 1.17 billion industry cover, prompting the country’s president Javier Milei to offer the job more advertising. &nbsp,

However, all of this fell apart, with Milei’s X article disappearing and claiming to have no knowledge of the token’s roots, which caused the price to drop 97 % in the day that followed.

Tim Treanor, the controlling director of Treanor Law Company, told ,” We’ve been looking at this from the beginning. However, I believe there are three most intriguing research topics. One of them is the claims made that may have sparked buyers ‘ purchasing of the Libra coin.

President Milei promoted the coin on his X accounts in a since-removed post, claiming that the “private project” had been “dedicated to supporting the growth of the Brazilian economy by funding little Brazilian businesses and startups.” This perception is still in development.

The President was quickly charged with fraud in Argentina because of his engagement shortly after the release. Milei after refuted these accusations, claiming that he had done so in good devotion and that he had no idea what the project was before revealing it to millions of followers.

Hayden Davis, the formal President of Argentina X accounts, claimed that Kelsier Venture CEO Hayden Davis was in charge of the project when Milei met him in January. David mentioned that Tech Forum Argentina’s Mauricio Novelli and Manuel Godoy were even involved in the project, but it’s not clear what they did specifically.

Due to the fact that the investigation is still in its early stages, Treanor did not name any individuals or groups that are being considered as part of the research. &nbsp,

There are” individually, there’s a whole other set of questions surrounding the actual selling and buying of the coin,” Treanor said.” Were coins sniped? Were the notions used to make the coins that people bought and traded in accurate and realistic with what people thought they would buy? Or was there some exploitation”?

In an interview with well-known YouTube detective Coffeezilla, Davis boldly admitted to” sniping” LIBRA, which refers to a method of immediately purchasing a gift right away as he claims it was done to inhibit other guns.

Treanor pointed out that the company needs to talk to owners to find out which of these two fraud and market manipulation allegations most likely applies to the patients. On the one hand, some consumers may have been “playing the game” of buying memes and are only concerned about the claims of market manipulation.

Others may have been really convinced that Argentina would benefit from the token’s use as a force.

Treanor told ,” It’s crucial for us to try to connect with more people who lost money and find out what their intentions were.” &nbsp,

Treanor has practiced rules for nearly 30 years, most recently for Sidley Austin LLP, a well-known law firm that once housed previous President Barack Obama and Vice President JD Vance. Treanor represented Concacaf and its affected individuals during this time in obtaining$ 201 million in funds from corruption-related organizations.

Treanor claimed that he founded his own laws practice to take his breadth of experience in financial offense to bitcoin, fintech, and traditional financing. He hopes to change the crypto industry by bringing change to the industry despite the fact that there are legitimate use cases for blockchain, but there has also been some” not good for anyone” kind of destructive activity.

Over 75, 000 cards lost money on the Libra tokens, totaling over$ 280 million in losses, according to the agency’s investigation into the case so much. However, the ice might just be the beginning.

The company is looking into racketeering violations that suggest a design of criminal behavior by an individual or group as the fourth area of interest. Although this is a criminal act, there is a provision that allows patients to file a civil lawsuit and possibly recover three times the damages. &nbsp,

By using on-chain data, analytics firm Bubblemaps linked the LIBRA build to the release of MELANIA, the standard meme coin of U.S. First Lady Melania Trump. This made it clear to the public what possible effect Kelsier and another Libra actors might have had on our projects.

Do we have a team around who was using contraband in a more general sense, and did that incorporate other coins? … Treanor said. There have been corruption allegations, and there are also other things that aren’t really fraud allegations.

He continued,” Many of the facts are known.” Whether or not it is reputable, a court might decide that at some point.

edited by Andrew Hayward