Libra Token Key figure Hayden Davis denied suspicions pulling the rug and accused him of “the plan is wrong”

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Hayden Davis, who facilitated the launch of Libra, dealt with allegations surrounding the token crash, claiming it was due to a failed strategy rather than a deliberate scheme to fraudulent investors.

“People say this is a rug pull,” Davis said in a Sunday interview with YouTuber and Crypto Sleuth Coffeezilla. “That's not objectively true. There are still 60 million people on the locked fluidity binding curve.”

“It's not a rug. That's a miserably wrong plan because I'm sitting on a $100 million account that's a custodian,” Davis added. “I love the instructions on what to do with that. I don't want it, I have no desire to be number one of the public enemies.”

Libra Token team was shot at launch

Davis admitted that the project's team engaged in sniping during the firing of Libra tokens to control market manipulation by other potential snipers. As Davis detailed, the plan was to accumulate enough fluidity to control the snipers.

“…So when the chart goes down, it doesn't crush the entire project, let Milei do a second round of video, then revert all the capital, or at least inject the majority, and like mega-tramps It's basically starting up to create something like a mega,” he explained, adding that complications occurred when key marketing support was withdrawn.

With President Miley retracting his support for the Libra token, Davis suggested that Miley faced intense political pressure that could have caused him to panic and ultimately retract his support.

“As someone in his position, I'd feel right,” Davis said. He's not like someone from code. “He also revealed that while Milei supported the project, it was officially approved by the government, but never considered his personal token.

Mairay faces criminal fraud charges for his role in promoting Libra tokens.

Libra loses value over 90% in insider trading and manipulation claims

Libra lost more than 90% of its value within 24 hours of its launch, erasing more than $4 billion in market value amid claims of insider trading and market manipulation.

The research reveals a complex network of market operations, including KIP protocols, Davis' Kelsier Ventures, and a variety of influential figures. Dave Portnoy, founder of Barstool Sports, revealed that Davis had informed him of Libra's launch plans and sent 6 million tokens.

For the record, I couldn't care much about people knowing that Hayden had paid me back. I had a total plan to say it on the live stream, but he caught me off guard by texting me in the middle and asking me not to mention it. You can actually see my eyes reading the text in real time… pic.twitter.com/dr4pqpdkhs

– Dave Portnoy (@stoolpresidente) February 17, 2025

Early chain analysis by Bubblemaps linked Libra to other projects such as Melania, Enron, and Bob, and proposed a coordinated operating system. The study identified connections between multiple wallet addresses and cross-chain transactions, which pointed to organized price manipulation.

1/How $ libra Created by the same team behind Melania and other short-lived coins

Features new on-chain evidence

coffeezilla thread 🧵↓ pic.twitter.com/gnwj97kapf

– Bubblemaps (@bubblemaps) February 17, 2025

Speaking to Coffeezilla, Davis admitted he was involved in launching Melania Meme Coin, but insisted that the team had not made any profit from it.

“We were definitely not a big sniper,” he said. “We did nothing. We didn't have any money made from the Melania team. We didn't remove liquidity. Zero.”

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