Libra insider Hayden Davis admits that he launched a sniper token and participated in the issuance of MELANIA

According to The Block, Hayden Davis, who is well-known for serving as an advisor to the controversial meme coin Libra (although some in the community consider him a core member), admitted in an interview with YouTube crypto investigator Coffeezilla that, Libra The project team "sniped" the token during its issuance (buying a large number of tokens at the first moment of issuance) and argued that this was done to prevent others from sniping.

Admitting to launching a sniper attack on Libra

Libra made its debut last Friday, after Argentine President Javier Milei had previously promoted the token. The price of Libra soared to billions of dollars, but later the coin price fell, and Javier Milei withdrew his support for the token, further causing the coin price to collapse. Hayden Davis said in an interview:

Our goal is to absorb enough liquidity, drive away all the snipers, or at least control them, so that when the price falls, the entire project does not collapse. My point is that when the team snipes themselves, I am not saying this should happen all the time, but I believe that in many cases, it is to protect the project. If the trading volume is large enough, then take away a portion and give the market the opportunity to push the price up again

He later added that he controls the team wallets, which have received over $100 million in funds from Libra's issuance. In addition, Hayden Davis further revealed in an interview that Mauricio Novelli, Manuel Godoy, and Kip Protocol from Tech Forum Argentina are core members of the Libra meme coin. Although Coffeezilla considers Davis to be one of the "Big Four Founders" of Libra, Davis emphasizes that he is only an "assistant" to the project, not a deployer or core team member.

The cryptocurrency market is filled with insider trading

When asked about his behind the scenes deal with internet celebrity Dave Portnoy, Hayden Davis It is stated that almost every cryptocurrency issuance involves insider trading and implies that it is an industry standard for cryptocurrency KOLs (key opinion leaders) to obtain insider information before token issuance.

Barstool Sports Founder Dave Portnoy previously revealed that he will refund the 6 million Libra tokens gifted by Hayden Davis because Hayden Davis told him not to disclose this transaction to the public. Hayden Davis He explained that this gift is a "compensation" for Portnoy's trading losses after the issuance of Libra, and acknowledged that this decision "may have been a mistake". Hayden Davis stated:

Those who are angry are those who have no insider information, and all those who complain on social media are those who have not entered the trading circle. If they enter the trading circle, they will not complain

Participate in the Melania Coin Issuance

On the other hand, on chain data analysis firm Bubblemaps has previously revealed that wallets related to the creator of Melania's meme coin have participated in the trading of Libra tokens, so it may be the same group of people behind it. In this regard, Hayden Davis admitted that he did participate in the launch of Melania meme coins by Trump's wife Melania Trump, and disclosed that the team also "sniped" tokens when issuing them. Hayden Davis said:

"I think the team really wanted to snipe Melania coins, because Trump's meme coins were very popular at that time."

Libra is not a scam, but a complete failure of the plan

In response to criticism that Libra has been labeled as a scam, Dave Portnoy vigorously defended that Libra is not a scam, but a completely failed plan,

There is currently $100 million lying quietly in an account, and I am the custodian of that account. I also hope someone can tell me how to handle this money. I don't want to become an enemy of the public