The Libra Trust has received nearly $110 million intended to support Argentine companies through grants. The trust received the funds from Hayden Davis on Nov 22 as a defense against scam allegations tied to the Viva La Libertad project, also known as the Libra token. Over a year after the token’s demise, the trust is preparing to process 71 applications already submitted by firms seeking support for growth. The trust will organize applications, verify feasibility, and check the origin of funds before distributing any grants. Grant delivery is expected to begin before November, with timing depending on how quickly applicants respond to questions sent in the coming days. Financing decisions will be made based on the results of these checks.
"Over a year after the token's demise, the Libra Trust has arranged a strategy to fund nearly 71 companies that have applied for this support. The Trust has close to $110 million to invest in this task, transferred by Hayden Davis, CEO of Kelsier Ventures and one of the faces behind Libra."
"To fight scam claims, Hayden Davis sent funds on Nov 22 to the trust, which will distribute grants by November. To restore market trust, the fund could next pay Viva La Libertad victims filing claims before Nov 22, 2025."
"According to Argentine media, the trust, whose purpose is to bring these funds to Argentine companies seeking grants to support their growth, has already received 71 applications to access part of these funds. In the next few days, the Trust will begin organizing these applications and running checks on their feasibility and origin before delivering any funds."
"While there are no set dates for this, the Trust indicated that the grants will start being delivered before November. The timing of the distributions will depend on the promptness with which funding applicants respond to the questions that will be sent in the coming days, the Trust stated."
Read at news.bitcoin.com
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