Hayden Davis, a crypto marketer associated with launching the Libra meme coin that has put Argentine President Javier Milei on the spot, reportedly bragged about paying the President’s sister in exchange for sharing $Libra details on the X platform.
According to a report on media outlet La Nacion, Hayden Davis, the CEO of Kelsier Ventures, allegedly sent a test message to a crypto investment firm executive stating that he could pay Karina Milei to gain control over the President.
Text Messages
Text messages attributed to the Libra meme coin co-creator Davis that were allegedly sent to the executive of an anonymous crypto firm that rejected his offer would put the Argentina first family in a tighter spot if proven true. Screenshots of the texts read:
“We can also have Milei tweet, meet in person, and do a promo. […] I send $$ to his sister, and he does whatever I say and does what I want.”
Javier Milei Faces Backlash
Argentina President Javier Milei is currently facing a backlash and ethical dilemma for allegedly manipulating the Libra meme coin price and giving insider information to a select number of people to the detriment of other traders. According to media reports, Hayden Davis has admitted to being a co-creator of several high-profile meme coins, including Melania Trump, whose value surged to $2 billion in market capitalization before it crashed 90%.
Allegations of Front Running
Details of another interview with Argentine YouTuber Stephen Findeisen, who goes by the online tag Coffeezilla, suggest that Hayden Davis may have bought the $MELANIA and $LIBRA tokens as soon as they were launched in a scam move that is known as front-running or sniping within the cryptocurrency space. In the video, Davis is alleged to have said:
“We’re sniping, we’re attempting to avoid other snipers getting in […] A lot of times it’s to protect — and if there’s enough volume — to take some off so people can have a chance to pump the chart back up.”
It should be noted that market manipulation tactics such as front running are illegal practices within regulated financial markets, and they come with hefty penalties, including license revocations and potential criminal charges. However, regarding assets such as the Libra meme coin, it may not be clear whether the same rules apply in many jurisdictions.
Outcry over $LIBRA
An investor outcry has piled into the $LIBRA token, which seemed to have received a presidential endorsement. The token’s value drove to a $4.5 billion market value within an hour before suddenly crashing by over 95%. Reports indicate that Hayden Davies and other insiders involved in the launch of the Libra Meme coin could have pocketed up to $100 million as a result of the front-running scandal.
Conclusion
Karina Milei, the Argentine president’s sister and alleged accomplice of Hayden Davis, currently works in her brother’s office as the president’s general secretary. The lady is always seen accompanying the President during official foreign tips and is said to be a close advisor. The country’s opposition is calling for the impeachment of Javier Milei even as the President maintains he had nothing to hide and had only acted in good faith.
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Frequently Asked Questions (FAQs)
What caused the Libra meme coin to crash?
The $LIBRA token is said to have crashed when the development team withdrew at least $87M from liquidity while the insiders cashed out $107M.
Is the crash a rug-pull scam?
The development team’s involvement, rumors of the team, and the country’s President a real rug-pull scam.
Has the $LIBRA token’s performance recovered?
By the time of writing, LIBRA was trading at $0.3829 after a nearly 1,000% decline from its ATH of $4.5.
Why does the opposition want President Javier Milei impeached?
The opposition claims that the Argentine President promoted the $LIBRA token via an X-post, causing investors to lose millions of dollars.
Appendix Glossary to Key Terms
Meme coin: A digital currency inspired by literal memes or other cultural phenomena.
$LIBRA: $LIBRA is a cryptocurrency created by entrepreneur Hayden Davis, the CEO of Kelsier Ventures.
Front running: An illegal practice where a broker or trader uses non-public information about a sizeable pending order to buy or sell a security for their gain.
Rug pull: A cryptocurrency scam where developers abandon a project and take all the funds, leaving investors with worthless tokens or coins.
References
The price predictions and financial analysis presented on this website are for informational purposes only and do not constitute financial, investment, or trading advice. While we strive to provide accurate and up-to-date information, the volatile nature of cryptocurrency markets means that prices can fluctuate significantly and unpredictably.
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