{"id":78951,"date":"2026-10-02T07:52:25","date_gmt":"2026-10-02T07:52:25","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/us-judge-dismisses-libra-crypto-class-action-against-kelsier\/"},"modified":"2026-10-02T07:52:25","modified_gmt":"2026-10-02T07:52:25","slug":"us-judge-dismisses-libra-crypto-class-action-against-kelsier","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/us-judge-dismisses-libra-crypto-class-action-against-kelsier\/","title":{"rendered":"US Judge Dismisses Libra Crypto Class Action Against Kelsier"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">A U.S. judge dismissed the lawsuit over Milei-promoted token Libra, ending legal claims in the US.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">The court ruled DeFi platform Meteora is software and cannot be sued, dismissing fraud and RICO claims.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Over 44K investors affected by the insider dump now lack US legal recourse, while Milei denies liability.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h2>Libra Matter Settled: Class Action Dismissed<\/h2>\n<p>The <a href=\"https:\/\/news.bitcoin.com\/the-libra-incident-examining-argentine-president-javier-mileis-confusing-token-endorsement-and-its-destructive-aftermath\/\">saga of the Libra project<\/a>, a token promoted by Argentine president Javier Milei using his social media channels, seems to be coming to a close, at least in the U.S.<\/p>\n<p>Federal Judge Jennifer L. Rochon dismissed <a href=\"https:\/\/news.bitcoin.com\/libras-misleading-launch-faces-class-action-lawsuit\/\">a class action lawsuit<\/a> against Libra organizer Kelsier Ventures and Meteora, a decentralized finance platform, and also denied the plaintiffs\u2019 motion to file a second complaint.<\/p>\n<p><a href=\"https:\/\/storage.courtlistener.com\/recap\/gov.uscourts.nysd.642202\/gov.uscourts.nysd.642202.274.0.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">In her opinion<\/a>, Rochon stressed that plaintiffs cannot sue Meteora, a decentralized finance protocol, because they failed to prove it acted as an unincorporated association or a partnership, siding with Dynamic Labs, which argued that Meteora was just software and could not be sued.<\/p>\n<p>The court dismissed the Racketeer Influenced and Corrupt Organizations (RICO) Act violations allegedly committed by Kelsier Ventures. Rochon explained that plaintiffs failed to establish a valid pattern of racketeering activity, highlighting that a six-month timeline for the scheme involving Libra was insufficient to prove closed-ended or open-ended continuity, requisites for establishing a RICO case.<\/p>\n<p>Charges against Meteora developer Benjamin Chow <a href=\"https:\/\/www.cahill.com\/news\/firm-news\/2026-09-30-cahill-secures-dismissal-of-class-action-against-meteora-co-developer-benjamin-chow\" target=\"_blank\" rel=\"noopener noreferrer\">were also dismissed<\/a>. Rochon stressed that Chow\u2019s relation to the project, providing technical assistance before its issuance, or Meteora\u2019s profit from transaction fees, failed to prove fraudulent intent.<\/p>\n<p>Conspiracy to defraud and unjust enrichment claims were also dismissed.<\/p>\n<p>With this decision, unless other parties come forward, the Libra matter is settled in the U.S., while in Argentina, two deputies tried to become plaintiffs in the Libra case, only to <a href=\"https:\/\/www.clarin.com\/politica\/libra-rechazaron-pedido-diputados-querellantes-causa-escandalo-cripto_0_eAkpgCldiT.html\" target=\"_blank\" rel=\"noopener noreferrer\">have their request rejected<\/a> by a Buenos Aires Federal Court.<\/p>\n<p>Estimates indicate that over 44K investors were affected by Libra, when insiders dumped the price after an early sniping of considerable token volumes. While the token had a stealth launch, President Javier Milei promoted it on X, stressing that the project would help fund small Argentine businesses and startups, sharing the solana contract address associated with the token.<\/p>\n<p>Later, Milei <a href=\"https:\/\/news.bitcoin.com\/javier-milei-denies-responsibility-in-libra-debacle-if-you-go-to-the-casino-and-lose-money-thats-your-problem\/\">rejected any liability for these losses<\/a>, comparing meme coin investments to a casino trip. <strong>\u201cThey knew very well the risk they were taking. If you go to the casino and lose money, it\u2019s your problem,\u201d<\/strong> he declared, referring to traders who were involved in the launch of Libra.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/regulation-and-legal\/us-judge-dismisses-libra-crypto-class-action-against-kelsier\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways A U.S. judge dismissed the lawsuit over Milei-promoted token Libra, ending legal claims in the US. The court ruled DeFi platform Meteora is software and cannot be sued, dismissing fraud and RICO claims. Over 44K investors affected by the insider dump now lack US legal recourse, [&hellip;]<\/p>\n","protected":false},"author":15,"featured_media":78952,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/78951"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=78951"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/78951\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/78952"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=78951"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=78951"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=78951"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}