{"id":47626,"date":"2025-02-17T17:38:54","date_gmt":"2025-02-17T17:38:54","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/libra-co-creator-alleges-insiders-had-early-purchase-access-before-market-launch\/"},"modified":"2025-02-17T17:38:54","modified_gmt":"2025-02-17T17:38:54","slug":"libra-co-creator-alleges-insiders-had-early-purchase-access-before-market-launch","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/libra-co-creator-alleges-insiders-had-early-purchase-access-before-market-launch\/","title":{"rendered":"Libra co-creator alleges insiders had early purchase access before market launch"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div data-site=\"CoinJournal\">\n<div class=\"-mt-16  mb-8  lg:-mt-20  rounded-md  shadow-md\">\n<div class=\"relative  z-10  post-article-image  rounded  overflow-hidden\" data-site=\"CoinJournal\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/marketcrash-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/marketcrash-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/marketcrash-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/marketcrash-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                            <\/div>\n<\/p><\/div>\n<ul>\n<li>LIBRA coin crashed within hours of what was seen as a successful launch.<\/li>\n<li>LIBRA was endorsed by Argentina\u2019s President Javier Milei.<\/li>\n<li>One of its co-creators, Hayden Davis, has revealed insiders were given preferential access to buy early.<\/li>\n<\/ul>\n<p>In a surprising twist to the already tumultuous saga of the LIBRA cryptocurrency, one of its co-creators, Hayden Davis, has come forward with allegations of insiders being given preferential access to purchase the token before its official market launch.<\/p>\n<p>This claim emerged during an interview with investigative journalist Stephen Findeisen, known as Coffeezilla, shedding light on what Davis describes as an \u201cinsider\u2019s game.\u201d<\/p>\n<h2>LIBRA\u2019s rapid rise and fall<\/h2>\n<p>LIBRA cryptocurrency was designed to leverage the buzz around blockchain technology and potentially stimulate economic growth in Argentina by funding small businesses and startups.<\/p>\n<p>The token was developed by a team including Hayden Davis, under the banner of Kelsier Ventures, and with technical support from KIP Protocol, which was invited post-launch to manage the selection of funded tech projects. LIBRA was hosted on the Solana blockchain, known for its speed and low transaction fees, making it a popular choice for memecoin enthusiasts.<\/p>\n<p>On February 14, 2025, <a href=\"https:\/\/x.com\/KobeissiLetter\/status\/1890611964994363769\">Argentina\u2019s President Javier Milei threw his weight behind LIBRA<\/a> via a social media endorsement, describing it as a tool to \u201cincentivize the growth of the Argentine economy.\u201d The token\u2019s value skyrocketed almost instantaneously, reaching a market cap of over $4 billion.<\/p>\n<p>However, this meteoric rise was short-lived. Within hours, LIBRA\u2019s value plummeted back to near zero, with over $87 million cashed out by insiders in the first three hours post-launch, according to financial analysts.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Javier Milei just DESTROYED the memecoin market:<\/p>\n<p>Hours ago, Argentinian President Milei launched a memecoin, <a href=\"https:\/\/twitter.com\/search?q=%24LIBRA&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$LIBRA<\/a>, for &#8220;the growth of their economy.&#8221;<\/p>\n<p>Within 5 hours, over -$4.4 BILLION of market cap was erased.<\/p>\n<p>Is this the biggest rug pull in history?<\/p>\n<p>(a thread) <a href=\"https:\/\/t.co\/t4T69r851d\">pic.twitter.com\/t4T69r851d<\/a><\/p>\n<p>\u2014 The Kobeissi Letter (@KobeissiLetter) <a href=\"https:\/\/twitter.com\/KobeissiLetter\/status\/1890611963203334190?ref_src=twsrc%5Etfw\">February 15, 2025<\/a><\/p>\n<\/blockquote>\n<p>The collapse was attributed to the classic signs of a \u201crug pull,\u201d where the token\u2019s creators or insiders inflate and then abandon the project, leaving investors with significant losses.<\/p>\n<p>Notably, the website associated with LIBRA, vivalalibertadproject.com, was registered on the same day as its launch, hinting at the rushed and potentially speculative nature of the project.<\/p>\n<h2>The Hayden Davis interview revelation<\/h2>\n<p>In his candid interview with Coffeezilla, Hayden Davis, also known as Kelsier, claimed that before LIBRA was publicly available, certain individuals at a private dinner in Washington, D.C., were allowed to buy 500 million tokens at a discounted price.<\/p>\n<p>Davis described the crypto industry, particularly in this instance, as an \u201cinsider\u2019s game,\u201d where access to early, lucrative opportunities is not equitably distributed.<\/p>\n<p>Davis further admitted his involvement in another project, MELANIA, implying that similar tactics were used there. His revelations paint a picture of a market where those with connections can manipulate outcomes for personal gain, significantly disadvantaging the average investor.<\/p>\n<p><iframe loading=\"lazy\" title=\"Argentina\u2019s memecoin creator interview (LIBRA)\" width=\"800\" height=\"450\" src=\"https:\/\/www.youtube.com\/embed\/EqizJTbxAEM?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<h2>President Milei faces possible impeachment<\/h2>\n<p>The fallout from the LIBRA debacle has plunged President Javier Milei into a political maelstrom. Critics, including opposition leaders and legal experts, have accused Milei of fraud, pointing to his promotion of LIBRA which many saw as an endorsement of a speculative asset that led to investor losses.<\/p>\n<p>The situation has escalated to the point where Argentine lawyers have filed fraud complaints in criminal court, arguing that the incident resembles a \u201crug pull\u201d where investors are lured with promises only to see the value of their investments collapse.<\/p>\n<p>The scandal has not only damaged Milei\u2019s reputation but has also prompted calls for his impeachment. Political adversaries, including former President Cristina Fern\u00e1ndez de Kirchner, have seized this opportunity to challenge Milei\u2019s leadership, describing the incident as a betrayal of public trust.<\/p>\n<p>The controversy has led to an official investigation by Argentina\u2019s Anti-Corruption Office, examining whether Milei or any members of his administration acted improperly or knew about the token\u2019s dubious foundations.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/libra-co-creator-alleges-insiders-had-early-purchase-access-before-market-launch\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) LIBRA coin crashed within hours of what was seen as a successful launch. LIBRA was endorsed by Argentina\u2019s President Javier Milei. One of its co-creators, Hayden Davis, has revealed insiders were given preferential access to buy early. In a surprising twist [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":47627,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/47626"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=47626"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/47626\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/47627"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=47626"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=47626"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=47626"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}