LIBRA token creator fights class suit, citing lack of jurisdiction

Key Points

1. Hayden Davis, co-founder of Kelsier Ventures, is fighting a class-action lawsuit in New York, claiming the court lacks jurisdiction over him.

2. The lawsuit alleges Davis and his siblings misled investors by promoting LIBRA as a tool to boost Argentina's economy, siphoning over $100 million from liquidity pools.

3. Davis argues the LIBRA token was offered globally and not specifically targeted at New York residents, citing lack of sufficient contact with the state.

4. The class-action group previously secured an asset freeze on $57.65 million worth of USDC allegedly linked to the LIBRA token.

5. Davis has requested the lawsuit be dismissed without prejudice, allowing the claims to potentially be re-filed in another jurisdiction.