Hayden Mark Davis, the person behind the Libra token endorsed by Argentina’s President Javier Milei, which cratered in worth, seems to be holding $100 million of buyers’ funds however insists that is “not random rip-off.”
Sunday, Feb. 16, turned out to be a catastrophe for Argentina‘s President Javier Milei as political opponents threatened an impeachment trial after he promoted Mission Viva La Libertad (additionally recognized by its ticker LIBRA) on X.
The token, launched on Solana, was meant to assist Argentina’s economic system however cratered by greater than 90% simply hours after its debut as insider wallets cashed out over $100 million in liquidity, resulting in a $4 billion market cap wipeout.
But, evidently Milei wasn’t the one one behind the token’s launch. As an alternative, it seems to have been a collective initiative, with numerous events now pointing fingers at one another. The launch of the LIBRA token, promoted by Argentine President Javier Milei, concerned a number of key people and organizations:
- President Javier Milei. Who publicly endorsed the token, presenting it as a method to assist small companies and stimulate Argentina’s economic system.
- KIP Protocol. A decentralized AI framework that bragged about enjoying a key function within the improvement of LIBRA.
- Julian Peh. Co-founder and CEO of KIP Protocol, who met with President Milei to debate how KIP’s decentralized AI expertise may align with Argentina’s technological ambitions.
- Hayden Mark Davis. A serial crypto entrepreneur, who was concerned within the token’s promotion and later accused President Milei of withdrawing assist, which he claims led to the token’s collapse.
Shortly after Libra’s worth collapsed and Milei deleted his endorsement submit, he printed a brand new one, saying he was “not conscious of the small print.” KIP Protocol then issued a clarification statement emphasizing that Peh and different members of its staff had met Milei in October 2024, although Libra was not mentioned on the time.
The agency acknowledged that KIP had no function in launching the token, wasn’t linked to Davis in any means, and didn’t make any cash from the venture.
Hustling knowledgeable
As of now, Hayden Mark Davis, who performed a task in launching the token and claims to be the CEO of a crypto agency known as Kelsier Enterprise, is underneath essentially the most scrutiny. Despite the fact that PitchBook says the agency was based in 2021, it appears to have truly launched in early 2023, primarily based on the area registration particulars.
The agency’s official web site claims Kelsier “fuels web3 innovation by the synergy of go-to-market experience, in-depth analysis, and focused investments,” however doesn’t go into specifics on its choices. The web site has no portfolio, no staff web page, not to mention phrases of use or privateness coverage.
Davis, who listed “hustling knowledgeable” and “enterprise networking” as expertise on his LinkedIn profile, printed a video on X shortly after the token crashed, calling himself “Javier Milei’s advisor.” He additionally stated he’s working with Milei and his staff on “a lot greater tokenization and actually cool stuff in Argentina, and I completely again him.”
Whereas Davis didn’t give specifics on what went down or who took out over $100 million by insider wallets, he admitted within the video that “issues didn’t go in keeping with plan.” He additionally pledged to return “each single greenback that was collected from charges, or farming or liquidity, something I’ve managed to get again and my intention is to inject every thing again into the Libra chart.”
“Higher examine your ass off”
In a separate interview with crypto investigator Stephen Findeisen — also called Coffeezilla — Davis admitted that he’s holding $100 million affiliated with the venture, calling it “leverage with sure teams and events.”
“The truth that I’ve management can be what’s making me a goal and likewise is defending me. As a result of that is a global incident. This isn’t like some random fucking rip-off.”
Hayden Mark Davis
As of press time, it’s unclear whether or not Davis was liable for launching the token. Nonetheless, this doesn’t look like his first pump-and-dump incident.
Analysts at blockchain analytics platform Bubblemaps have uncovered on-chain proof suggesting that the entity behind the LIBRA crash additionally orchestrated the MELANIA token launch. Later in his interview with Coffeezilla, Davis admitted he was concerned within the MELANIA launch and took benefit of it.
Davis additionally talked about meme coin launches like MELANIA, telling retail buyers who assume they will make hundreds of thousands buying and selling meme cash they need to examine their “fucking ass off,” including that the meme coin house is an “unregulated on line casino.”