Crash

Token

Solana

LIBRA

The creator of the <a href="https://bsc.news/post/javier-milei-s-libra-endorsement-what-went-wrong" rel="noopener noreferrer nofollow">LIBRA token</a>, Hayden Davis, claims he paid Karina Milei, sister of Argentine President Javier Milei, to gain access to the president’s inner circle and influence government decisions, according to messages seen by CoinDesk.&nbsp;Text messages reviewed by CoinDesk reveal Davis allegedly bragged about his influence over President Milei, claiming he could make him sign and promote anything in exchange for payments to Karina Milei.In messages from mid-December, Davis allegedly wrote:<blockquote>“I control that n****. I send $$ to his sister, and he signs whatever I say and does what I want.”</blockquote>The messages came from an anonymous source. However, Davis denied sending them, stating he had no record of such messages on his phone.His spokesperson later issued a statement:<blockquote>“Recent media reports claiming I paid President Javier Milei or his sister, Karina Milei, to launch the LIBRA memecoin are completely false.”</blockquote><h2 id="libra-token-and-its-sudden-crash">LIBRA Token and Its Sudden Crash</h2>Launched on the <a href="https://bsc.news/post/solana-blockchain-ecosystem-deep-dive" rel="noopener noreferrer nofollow">Solana</a> blockchain, LIBRA reached a market cap of $4.5 billion before crashing 95% within hours. Davis and his firm, Kelsier Ventures, reportedly netted over $100 million from the token’s rise and fall.Reports indicate Davis’ team dumped large amounts of LIBRA tokens before the price collapse, raising concerns of insider trading. Blockchain analysts revealed eight wallets associated with the LIBRA team withdrew $107 million before the crash.<h2 id="milei-s-involvement-and-response">Milei’s Involvement and Response</h2>President Milei promoted LIBRA on X (formerly Twitter) on February 14, fueling the token’s massive surge. However, he deleted the tweet just five hours later. In an <a href="https://www.youtube.com/watch?v=AoFpg6cTp7s" rel="noopener noreferrer nofollow">interview</a>, he distanced himself from the project, claiming:<blockquote>“I did not promote that. I just spread the word.”</blockquote>Opposition leaders argue his endorsement was crucial in misleading investors, with some calling for an impeachment trial. The incident, dubbed "Criptogate," has shaken Argentina’s financial markets.Legal experts accuse Milei of participating in an "illicit association" designed to defraud investors. The case is now under review by Argentina’s criminal justice system.In response, Milei’s administration has requested an anti-corruption investigation into all government officials linked to LIBRA. However, critics argue this is a desperate attempt at damage control.

Did Javier Milei Get Played by LIBRA Token Creator?

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