In an attempt to mitigate the scandal surrounding the crypto asset $LIBRA, American businessman Hayden Mark Davis launched an online trust called "The Libra Trust." This maneuver was activated minutes before a key hearing in New York and also seeks to distance President Javier Milei from the project. According to Agencia Noticias Argentinas, citing a report by journalist Hugo Alconada Mon for LA NACION, the trust's website states that funds raised with the token will be distributed as grants for Argentine small and medium-sized enterprises (SMEs). The launch of the portal was a clear legal strategy. This operation took place just before federal judge Jennifer L. Roche was set to evaluate a request from the class action lawsuit to freeze Davis's funds. The trust contains a central point: it ensures that the trust will operate "with total independence from Hayden Davis and Javier Milei," without detailing their roles, seeking to distance the President (who supported the token on social media in February) from the grave accusations. Minutes after the site was activated, Judge Roche rejected the plaintiffs' request to freeze the funds. The magistrate valued Davis's commitment to preserve the necessary documentation to guarantee the traceability of the assets, added to the initiative of the new trust. Davis and other defendants face a class action lawsuit in the United States that invokes the federal law that penalizes organized crime (RICO Act), accusing them of running an "authentic fraud factory" in the crypto market.
