Ptk

Some amazing numbers from the experiment. Huge shoutout to @Blurrylogics @0xPtk @the3dmslobj for designing the experience.

🚨 Hayden Davis, Ben Chow, Kelsier, and Meteora just beat the $LIBRA / $M3M3 class action. Not after a trial. After an 81-page opinion. Judge Rochon dismissed the ENTIRE case with prejudice. You cannot RICO a six-month memecoin launch. You cannot sue a Solana DEX as if it were a partnership. And “Milei posted it” is not a fraud claim against the guy who built the liquidity pool. This was the SDNY class action over the December 2024 $M3M3 launch and the February 2025 $LIBRA token - the one tied to Javier Milei’s “Viva La Libertad” post. Plaintiffs also tried to pull in $MELANIA and other launches in a proposed second amended complaint. The story in the complaint if you can recall, is cinematic. Insiders allegedly freeze the pool, fill wallets before the public can buy, inflate the cap, dump, and leave retail with a 90% crash. One named plaintiff lost about $19,000 on $M3M3. The other bought $LIBRA on launch day. The court never decided whether that happened. It decided plaintiffs sued the wrong thing, under the wrong statute, with the wrong facts. Meteora is not a defendant. Dynamic Labs intervened and said Meteora is software. The court agreed plaintiffs never pleaded a real unincorporated association - no identified members, no president or treasurer, no mutual consent to a common objective. Calling a protocol a “team” does not make it suable. All claims against Meteora are gone. RICO is gone. Closed-ended continuity needs a substantial period. Six months of token launches is not enough. Adding $MELANIA / $ENRON / $TRUST in the proposed amendment stretched it to about seven. Still not enough. Open-ended continuity also fails: Meteora and Kelsier are alleged as primarily legitimate businesses, and wire fraud is not inherently a criminal way of life. No pattern, no RICO, no RICO conspiracy. Fraud against Chow is gone. Rule 9(b) scienter. Profit is not motive. A post-crash “I f*cked up because I enabled the guy” is not a strong inference he intended to defraud buyers on day one. Conspiracy dies with the underlying tort. Kelsier is gone on jurisdiction. Once RICO drops, there is no nationwide service hook, and New York long-arm does not reach the Davis family on these facts. Leave to amend: denied as futile. Case closed. The takeaway is not “memecoins are legal.” The takeaway is that a viral launch plus a famous tweet is still not a RICO enterprise, and you cannot name the smart contracts as Defendant No. 5.

A beautiful surprise