US Federal Court Takes the LIBRA and M3M3 Meme Coin Lawsuit
The post US Federal Court Takes the LIBRA and M3M3 Meme Coin Lawsuit appeared on BitcoinEthereumNews.com. Burwick Law’s class-action lawsuit against LIBRA meme coin promoters has been moved from state to federal jurisdiction. This suit was combined with one concerning M3M3, another alleged scam token managed by the same figures. This effort differs from Argentina’s own investigations in two clear ways. It doesn’t target any Argentinian government officials or entrepreneurs, and it’s only interested in civil penalties. US LIBRA Lawsuit Goes Federal The LIBRA meme coin scandal seriously rocked Argentina’s crypto community, and local criminal investigations against key figures like President Javier Milei are ongoing. However, a wide variety of crypto-specific entrepreneurs actually spearheaded the project. A class-action lawsuit against LIBRA backers took off in the US two months ago, and now it’s going federal: **LIBRA COIN LITIGATION UPDATE** Defendant Ben Chow filed a Notice of Removal on May 9, shifting our class-action case from NY state court to U.S. federal court (SDNY). This action involves the LIBRA token, with on-chain losses estimated at roughly $400 million. pic.twitter.com/gxm4IA7OTE — Burwick Law (@BurwickLaw) May 12, 2025 Argentinian local media reported additional details about the US-based LIBRA lawsuit. Essentially, US investors represented a huge chunk of LIBRA buyers so that the federal government might have grounds for criminal charges. However, no US enforcement agencies pursued the opportunity. Instead, Burwick’s suit focuses on private backers, like Kelsier’s Hayden Davis. As far as a civil lawsuit goes, these LIBRA backers are a much softer target than a sitting head of state. Interpol already issued a warrant for Davis’ arrest in March. Benjamin Chow, a former executive at Meteora, is also a named target. He requested the shift from state court to federal court, and the presiding Judge, Jennifer Rochon, obliged this request. Multiple Scam Tokens Scrutinized In addition to transferring the LIBRA lawsuit, Judge Rochon also combined it with another…
The post US Federal Court Takes the LIBRA and M3M3 Meme Coin Lawsuit appeared on BitcoinEthereumNews.com.
Burwick Law’s class-action lawsuit against LIBRA meme coin promoters has been moved from state to federal jurisdiction. This suit was combined with one concerning M3M3, another alleged scam token managed by the same figures. This effort differs from Argentina’s own investigations in two clear ways. It doesn’t target any Argentinian government officials or entrepreneurs, and it’s only interested in civil penalties. US LIBRA Lawsuit Goes Federal The LIBRA meme coin scandal seriously rocked Argentina’s crypto community, and local criminal investigations against key figures like President Javier Milei are ongoing. However, a wide variety of crypto-specific entrepreneurs actually spearheaded the project. A class-action lawsuit against LIBRA backers took off in the US two months ago, and now it’s going federal: **LIBRA COIN LITIGATION UPDATE** Defendant Ben Chow filed a Notice of Removal on May 9, shifting our class-action case from NY state court to U.S. federal court (SDNY). This action involves the LIBRA token, with on-chain losses estimated at roughly $400 million. pic.twitter.com/gxm4IA7OTE — Burwick Law (@BurwickLaw) May 12, 2025 Argentinian local media reported additional details about the US-based LIBRA lawsuit. Essentially, US investors represented a huge chunk of LIBRA buyers so that the federal government might have grounds for criminal charges. However, no US enforcement agencies pursued the opportunity. Instead, Burwick’s suit focuses on private backers, like Kelsier’s Hayden Davis. As far as a civil lawsuit goes, these LIBRA backers are a much softer target than a sitting head of state. Interpol already issued a warrant for Davis’ arrest in March. Benjamin Chow, a former executive at Meteora, is also a named target. He requested the shift from state court to federal court, and the presiding Judge, Jennifer Rochon, obliged this request. Multiple Scam Tokens Scrutinized In addition to transferring the LIBRA lawsuit, Judge Rochon also combined it with another…
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