A top figure behind the Libra cryptocurrency claimed to have paid his way into Argentine President Javier Milei’s inner circle months before the controversial launch and collapse of the $LIBRA token.
Per a local media report, it showed how Hayden Davis, CEO of Kelsier Ventures, boasted of his influence over Milei. Davis allegedly stated that he “controlled” the Argentine president following his payment to Karina Milei, the president’s sister, who is also a key figure in his administration. David’s comment reads, “I control that n****. I send $$ to his sister, and he signs whatever I say and does what I want.”
$LIBRA is a cryptocurrency that was recently launched and promoted by Argentine President Javier Milei on social media. Initially, it gained a lot of attention, and its value skyrocketed to around $4.5 billion shortly after the announcement.
However, the excitement quickly turned into chaos when Milei deleted his supportive tweet, causing the token’s value to plummet by about 96%.
The launch raised serious concerns because a large portion of the tokens was controlled by a small group of developers, which led many to suspect potential manipulation or fraud.
Reports suggested that there were connections to bribery involving high-ranking officials to secure Milei’s endorsement. As a result, the market reacted negatively, leading to significant losses for many investors.
Following the controversy surrounding the token launch, the Argentine government has initiated an anti-corruption investigation into President Milei. Meanwhile, opposition leaders have intensified their calls for impeachment, arguing that his involvement in the memecoin scandal warrants legal action.
In contrast, Michael Padovano, spokesperson for Davis, stated that Davis has no recollection or record of sending the leaked messages that allegedly suggest his influence over the president.
“Recent media reports claiming I paid President Javier Milei or his sister, Karina Milei, to launch the Libra memecoin are completely false. I never made any payments to them, nor did they request any. Their only concern was ensuring proceeds from Libra would benefit Argentina’s people and economy.” [CoinDesk].
The situation remains uncertain, but on-chain data confirms that the biggest beneficiaries of Libra’s launch were Davis and Kelsier Ventures. Wallets linked to them reportedly earned over $100 million within the token’s first few hours before its value plummeted by more than 95%.
The trend of launching memecoins through the X accounts of national leaders began with Trump, who introduced the $TRUMP token on the Solana blockchain on January 17, 2025, just three days before his inauguration.
At a press conference on January 21, 2025, Trump commented on his memecoin, saying he knew little about it beyond its success. He appeared unaware of its value, calling its billion-dollar gains “peanuts” compared to figures like Sam Altman and Larry Ellison.
Meanwhile, CAR President Faustin-Archange Touadéra’s X account announced the $CAR memecoin on February 9, 2025, but its legitimacy is in doubt.
AI tools flagged the launch video as possibly manipulated, and the token’s website was registered just days before the announcement. Despite concerns, $CAR briefly hit a $900 million market cap before crashing over 60%.
