LIBRA co-creator Hayden Davis reportedly cashes out millions
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The creator of LIBRA, Hayden Davis, is facing accusations of “shamelessly” cashing out a staggering $1.6 million in what are alleged to be stolen funds from the cryptocurrency. Crypto analyst going by “dethective” revealed these startling claims.
In a detailed thread, Dethective unpacked transactions dating back to March 6. These transactions reportedly show wallets linked to Davis unstaking a massive $900,000 from Kamino Finance and swiftly converting it into USDC. Adding fuel to the fire, another $741,000, allegedly sourced from LIBRA and other dubious “scams,” was converted just yesterday, according to Dethective’s ongoing investigation.
The analyst asserted with conviction, “I’ll keep posting because there’s no way they get away with zero consequences.”
Adding another layer to the allegations, Dethective further contends that Davis is currently engaged in “farming kamino points” by utilizing a substantial $1.4 million pile of funds. This money, according to the analyst, comes from questionable sources including LIBRA, Melania Trump’s memecoin MELANIA, and “others.”
Adding to the controversy surrounding Davis, it’s worth remembering that he previously served as a crypto advisor to Argentina’s President Javier Milei. Furthermore, reports indicate that Davis potentially raked in over $100 million trading LIBRA through his firm Kelsier Ventures.
Dive deeper: The insiders behind Javier Milei’s disastrous LIBRA crash
Milei’s enthusiastic promotion of LIBRA, coupled with accusations of insider trading, is said to have inflicted significant financial pain on countless investors. Thousands reportedly lost millions as the token experienced a dramatic price surge and subsequent collapse within mere hours. The debacle has even triggered corruption investigations and mounting calls for impeachment against the president itself.
The LIBRA scandal continues to unfold, with an advisor to Argentina’s National Securities Commission, who was also listed as a Web3 advisor to Milei alongside Davis in a leaked draft contract, having resigned last Friday amidst scrutiny of his connection to LIBRA.
According to a report from the Buenos Aires Herald, Sergio Morales reportedly stepped down “for reasons of public knowledge.” Adding to the pressure, his residence was also reportedly raided following a prosecutor’s order.
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