A Deeper Dive into the Controversy

A key player behind the Libra token, Hayden Davis, CEO of Kelsier Ventures, bragged about buying access to Argentine President Javier Milei’s inner circle months before the memecoin’s scandalous launch and crash.

Text Messages Reveal Davis’s Claims

In text messages reviewed by CoinDesk, Davis claimed he could “control” Milei because of payments he had been making to Karina Milei, a powerful figure in Milei’s government, not to mention the president’s sister.

“I control that n****,” Davis claimed in text messages from mid-December. “I send $$ to his sister and he signs whatever I say and does what I want.”

Karina Milei’s office did not respond to a request for comment. Davis did not respond to multiple requests for comment.

Unclear If Money Was Exchanged

It was unclear if any money was exchanged between Davis and Milei’s inner circle in advance of Libra’s launch.

The Anti-Corruption Probe and Its Implications

The anti-corruption probe into Javier Milei, launched by the Argentine presidential office, has significant implications for the country’s cryptocurrency space.

Opposition leaders in Argentina have threatened to call for an impeachment trial over the incident, which the local press has coined “critpogate.”

The Scandal’s Impact on the Argentine Stock Market

The scandal is weighing on Argentina’s stock market and has pushed Milei into “damage control,” said one observer of the country’s crypto space.

The Rise and Fall of Libra

The Solana-based memecoin’s launch was fueled by Davis’s claims about Milei’s support, and it soared to $5 before crashing over 95% and wiping out millions of dollars in speculative investments.

Wallets controlled by Kelsier Ventures netted over $100 million in Libra’s early hours, but the token’s price had already crashed by the time it was deleted from social media after just five hours.

Conclusion

The controversy surrounding Libra’s launch and crash highlights the need for greater transparency and accountability in the cryptocurrency space.

The incident has also raised concerns about the potential for corruption and abuse of power in the world of cryptocurrency.

FAQs

• What is the Libra token? The Libra token is a Solana-based memecoin that was launched in December 2022.
• Who is Hayden Davis? Hayden Davis is the CEO of Kelsier Ventures, a company that was involved in the development of the Libra token.
• What is the controversy surrounding Libra’s launch? The controversy surrounds allegations of corruption and abuse of power surrounding the token’s launch, including claims that Davis bought access to Argentine President Javier Milei’s inner circle.
• What is the impact of the scandal on the Argentine stock market? The scandal is weighing on Argentina’s stock market and has pushed Milei into “damage control,” according to one observer of the country’s crypto space.