Argentine Lawyer Calls for International Arrest of Cryptocurrency Entrepreneur Hayden Davis

Gregorio Dalbon, who previously represented former Argentine President Cristina Fernandez in a corruption case, filed a formal request for an Interpol Red Notice for Hayden Davis, CEO of Kelsier Ventures and advisor to President Javier Milei, who helped launch the scam-tainted token, according to Argentine media outlet Perfil.

A renowned Argentine lawyer has officially called for the international arrest of the cryptocurrency entrepreneur allegedly involved in the LIBRA (CRYPTO: LIBRA) token scandal.

What Happened: Gregorio Dalbon, who previously represented former Argentine President Cristina Fernandez in a corruption case, filed a formal request for an Interpol Red Notice for Hayden Davis, CEO of Kelsier Ventures and advisor to President Javier Milei, who helped launch the scam-tainted token, according to Argentine media outlet Perfil.

Caso $LIBRA: pidieron la detención inmediata de Hayden Davis | Perfil https://t.go/xa4mV8Rja2

Dalbon submitted the petition to lead prosecutor Eduardo Taiano and Judge María Servini on Tuesday, seeking an Interpol Red Notice to expedite Davis’s detention and extradition from the U.S.

Dalbon argued that Davis might hamper the case’s progress by fleeing his home country, the U.S., or by remaining in hiding.

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Why It Matters: This move marked a significant escalation in the legal proceedings surrounding a case that has embroiled Milei’s administration in controversy.

The president had publicly endorsed the LIBRA shortly before its dramatic collapse, triggering allegations of a rug pull—a scam where creators accumulate funds for a project, causing its value to soar only to disappear with the invested funds, leaving the project worthless.

The Solana (CRYPTO: SOL)-based coin ran up to over $170 million in market capitalization after launch but has since lost 92% of its value.

Davis had denied the allegations of a rug pull, saying, “It’s just a plan gone miserably wrong with $100 million sitting in an account that I’m the custodian of.” He added that he never intended to personally profit from the funds.

Milei said that he never promoted the coin, and anyone who invested in the coin did so voluntarily. The president has faced calls for impeachment and criminal charges against him over the scandal.

Next Monday, the case will resume in Argentina's economic-financial crimes unit, where the alleged victims of the scam will be heard.

Libra Token: A Scam or a Misunderstood Project?

The LIBRA token, marketed as a project to revolutionize the food industry with blockchain technology, quickly gained attention in Argentina and beyond. However, the project collapsed dramatically, wiping out the savings of many who had invested in the token.

The rapid rise and fall of LIBRA, and the subsequent accusations of a rug pull, have sparked a national debate on cryptocurrency regulation and consumer protection in Argentina.

The case is expected to have far-reaching implications for the cryptocurrency sector in Argentina and could set a precedent for future cases of cryptocurrency fraud in the country.

The case is still ongoing and further developments are expected in the coming weeks.

The president's spokesperson, Federico III, stated that the president will not be summoned for Monday's hearing. However, he confirmed that the president is willing to cooperate with the judiciary if contacted.

"The president has no intention of personally profling from anyone's misfortune, and he is indifferent to the economic gains or losses of those who participated in the project," III added.

The case has also sparked a broader conversation about the role of cryptocurrency in modern society and the need for consumer protection in the rapidly evolving digital economy.