A well-known entrepreneur who advises the Argentine president on crypto matters claimed he has been left with a$ 100 million bag and that his reputation may be in danger as Javier Milei’s meme coin endorsement continues to stoke controversy and confusion.
Hayden Davis, the 28-year-old CEO of Kelsier, a company that offers bitcoin advertising services and investment products, has emerged as one of the most well-known eyes associated with the release of the Solana-based gift LIBRA.  ,
The token’s value quickly fell after it soared to a$ 4 billion market cap on Friday, leaving some investors with devastating losses as a result of Milei’s promotion.
Milei stated in a now-deleted post on X ( previously known as Twitter ) that LIBRA was “dedicated to supporting the growth of the Argentine economy.”
According to the , Milei has since distanced himself from the job and denied knowing how LIBRA was created while pursuing fraud complaints from Brazilian attorneys.
The start of LIBRA has been stymied by allegations of insider trading and market manipulation. Milei and Davis have tried to make it clear that he never intended to flee with$ 100 million, despite it being unclear what legal repercussions might Milei or Davis face in the end.
On Monday, Davis told Barstool Sports founder and image gold slides Dave Portnoy that extracting benefit from Libra’s start was a behind-the-scenes, necessary evil in order to maintain the token’s longevity. Davis acknowledged that the LIBRA was” sniped” by its creators to entice other investors to the sign and stop them from escalating the meme stock’s value.
More than running off with ill-gotten benefits, the money skimmed off of LIBRA’s release were going to be “injected” again into LIBRA, according to Portnoy’s memories of a prior dialogue with Davis. However, the message that Davis was waiting for presumably not came.
” I was instructed,’ Hey, couldn’t inject anything up in until Milei’s next movie,'” Davis said.
When asked for an answer regarding who the money are, which Davis made it clear that he did not like, he stammered and said the digital goods most likely belong to” Argentina.”
Five digital wallets with$ 87 million worth of Solana and USDC were flagged by the on-chain analytics firm Bubblemaps on Friday. The company claimed in a blog on X that the money came from designers “removing USDC and SOL from profitability pools,” which allow LIBRA to business.
As of this writing, three cards still contained$ 82.9 million worth of USDC and Solana. One wallet that had received$ 881, 500 worth of USDC had been emptied, along with another wallet that had received$ 891, 500 in USDC, Solscan data shows.
Additionally, according to Bubblemaps, a related digital wallet was found that” sniped” LIBRA for a$ 6 million profit on X, which meant tools were used to quickly flip the token as investors swooped in and joined the Argentine president’s now-deleted post.
Davis told Portnoy and his team were considering putting the$ 100 million back into LIBRA when it became clear that Milei’s second post would never be complete. However, at the end of the day, after many domestic discussion, Davis claimed he complied with the instructions to carry off.
In an interview published on Sunday, Davis told YouTuber Stephen Findeisen, better known as Coffeezilla, that he fears his career has fallen into danger, becoming the primary place of a multi-billion money political crisis playing out in real time.
” It’s not a rug”, Davis said. With$ 100 million sitting in the account I’m a custodian of, it’s a plan gone horribly wrong.
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