Kelsier Ventures CEO Testifies in LIBRA Token Lawsuit, Denies Fraud Allegations

Hayden Davis, CEO of Kelsier Ventures, appeared in a New York federal court this week to address allegations surrounding the LIBRA token's collapse. Investors filed a class-action lawsuit claiming losses tied to the token's volatility, but Davis refuted accusations of fraud or insider trading.

The entrepreneur attributed LIBRA's price crash to Argentine President Javier Milei deleting a social media post endorsing the project. Davis argued the sudden withdrawal of support fueled unfounded scam rumors, despite LIBRA's stated purpose as a tool for small business and education initiatives in Argentina.

Legal jurisdiction became a focal point during proceedings. Davis contested New York's authority over the case, noting his lack of residence or business operations in the state. The testimony marks a critical juncture in a lawsuit scrutinizing accountability in volatile cryptocurrency markets.