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Okay, so we have Hayden Davis, a 28 year old man from Texas. He is the person who invented that Libra memecoin. And listen to this – he even helped Melania Trump when she chose to get on the memecoin bandwagon.
Our aim is to extract sufficient cash to scare off all the opportunists.” – Hayden Davis
As reported by Argentina’s La Nación, he has engaged a local attorney who specializes in defending financial offenses. He additionally declared to CoinDesk that he did not offer any inducements to Milei or individuals within his close associates.
He informed the cryptocurrency publication, “Recent news reports suggesting I remunerated President Javier Milei or his sister Karina Milei for the intention of issuing the Libra memecoin are entirely untrue.”
“I have never given them any payments, nor have they ever made any demands. Their sole focus is to ensure that Libra’s earnings serve the Argentine populace and economy.”
Davis did not address DL News’ request for a statement.
Melania memecoin
At this current phase of the memecoin narrative, not much is understood about Davis. Born in Plano, Texas, he pursued business studies and participated in football at Liberty University, the Virginia institution established by right-wing evangelical clergyman Jerry Falwell.
Based on a removed LinkedIn profile, Davis currently holds the position of CEO at Kelsier Ventures, a Los Angeles-based enterprise that characterizes itself as a “web3 innovation” entity.
Libra is not his initial memecoin.
Davis disclosed to independent journalist Stephen Findeisen (more commonly recognized as Coffeezilla) that he assisted Melania Trump in introducing her own memecoin in January.
That token’s operation also encountered issues: the worth of all Melania tokens briefly surpassed $2 billion following its debut. However, within a day, its value had decreased by 75% and has continued to diminish since. Kiyosaki: Global Economy Declining, Predicts Bitcoin at $200,000
According to Davis, his function was to “ensure Libra’s liquidity and uphold its price.” In a declaration published through Kelsier’s X account, he asserted that he managed “all associated fees and treasury resources.”
He conveyed to Findeisen that this duty necessitated Davis adopting a contentious strategy: sniping.
Significant gains
In the realm of digital currencies, “sniping” denotes the act of procuring a substantial portion of a cryptocurrency immediately upon its market debut.
Should the currency gain traction and its worth surge dramatically, the purchaser stands to amass considerable wealth. Conversely, should they opt to liquidate their entire holdings concurrently, it could precipitate a price collapse.
Hayden Davis asserts that these progressively refined “snipers” pose a grave menace to meme coins. He avows to have personally “sniped” his own currencies, Melania and Libra, to shield them from such manipulation. Toncoin (TON) Value Forecast for March 26th
Blockchain data, compiled by Bubblemaps, unveils a correlation between Libra and Melania.
As per Bubblemaps, a solitary wallet realized a profit of $2.4 million subsequent to sniping Melania. This gain was subsequently transmitted to an address commencing with 0xcEA, which is associated with the address that initiated the Melania token.
Davis declared, “I had no intention of absconding with the funds.”
Weeks afterward, the identical 0xcEA wallet furnished seed capital for the wallet that launched Libra, according to Bubblemaps.
Davis states that Libra has garnered endorsements from “other prominent figures” and was contemplating the release of a video showcasing Milei.
To safeguard the coin’s price preceding these significant promotional occurrences, he extracted cryptocurrency from a liquidity pool, wherein investors can exchange Libra for alternative cryptocurrencies.
**Super Trump Debut**
He articulated, “Our objective was, can we extract sufficient liquidity to deter all the snipers, or at a minimum, regulate them, such that when the chart declines, it does not obliterate the entire endeavor?”
He appended that following the Milei video, he would “infuse all the funds, or at least the substantial portion thereof, and orchestrate a Super Trump debut, essentially,” alluding to the meme coin launched by the former US president a mere couple of days prior to his inauguration in January.
Nonetheless, blockchain observers have denounced Libra, branding it as a fraudulent scheme.
Alright, Hayden Davis claims that someone instructed him to withdraw the funds, but he is not revealing who issued the command. He is keeping that information confidential at the moment.
Considering the broader context, a more substantial development is unfolding: the financialization of a country’s legal tender.”
Alex Gilbert, a DeFi journalist, works for DL News in New York. You can contact him at [email protected].
