LIBRA Founder Wants New York Case Dismissed Due to Lack of Jurisdiction
Date: 2025-07-14 Author: Gabriel Deangelo Categories: BUSINESS
Kelsier Ventures co-founder and LIBRA memecoin founder Hayden Davis has filed a motion in a U.S. federal court asking for a class action lawsuit over the LIBRA token to be dismissed. In documents reviewed by Cointelegraph, Davis claims that he has no direct ties to New York and that the token’s marketing campaign was aimed at a global audience, not residents of the state.
According to Davis, he does not reside in New York, does not conduct business there, and has not committed any actions related to the alleged violations in the region. The founder of LIBRA noted that the project was conceived and developed in Argentina, and its promotion was not focused on any specific territory.
The lawsuit also affects other companies, including the crypto platform Meteora and KIP Protocol, as well as their CEOs - Julian Peh and Benjamin Chow, respectively. Davis emphasized that despite the fact that Meteora is associated with New York, the lawsuit does not establish personal jurisdiction over him.
If the court accepts the defendant's arguments, the case may be dismissed without prejudice, allowing the plaintiffs to refile the lawsuit in the proper jurisdiction if necessary.
Earlier, analysts from Nansen reported that investors lost about $251 million due to the collapse of the LIBRA memcoin. The situation with this token continues to cause controversy and questions in the crypto community.
Thus, the LIBRA case may become an important precedent in matters of determining jurisdiction in cases related to cryptocurrencies and memecoins, especially if the projects are international in nature and are developed outside the United States.
