rat trading、insider trading、presidential coin printing machine? A glimpse into the dark secrets of LIBRA meme coin collapse

The scandal of the meme coin LIBRA promoted by Argentine President Javier Milei continues to ferment. Reports indicate that the issuance and control team behind the token had planned to cooperate with the Nigerian government to develop a similar project. However, after the LIBRA scandal erupted, the project may not be realized.

(The turmoil of LIBRA continues! Jupiter employees involved in insider trading, Argentine president shifts blame: pure sharing without promotion)

THE LIBRA TURMOIL LED TO LARGER TRANSNATIONAL PROJECTS

As the LIBRA scandal escalates, various law firms led by Bruwick Law have announced that they will launch a collective lawsuit against Argentine President Milei. The opposition in Argentina is considering impeaching Milei, accusing him of colluding with multiple cryptocurrency companies, involving amounts as high as billions of dollars, and leading to significant losses for tens of thousands of people.

One American company, Kelsier Ventures, is particularly noteworthy.

( Meat Search Argentine President Meme Coin LIBRA Behind the Scenes: Latest Relationship Diagram, KIP and Kelsier Respond )

Hayden Interview Exposes Suspicions: TRUMP, MELANIA, and LIBRA All Have a Share?

On Monday, a video interview with Hayden Davis, CEO of Kelsier Ventures, was released, in which he attempted to downplay the incident, stating that meme coins were inherently high-risk investments, and referring to "many conflicts of interest" within the crypto market.

Davis revealed that before LIBRA issuance, the team did send LIBRA tokens to multiple KOLs in exchange for promoting the token.

At the same time, he also admitted to participating in the recent launch of the meme coin MELANIA by the First Lady of the United States, Melania Trump; and revealed that the insiders of the TRUMP token had already fully diluted the valuation with 5 billion US dollars at a certain encrypted dinner before the issuance, involving private placement round (FDV).

Nigerian meme coin project exposed, possibly involving government officials

The report quoted sources as saying that Kelsier Ventures had also worked with the Nigerian government to plan the issuance of new meme coins on Solana.

Although it is currently not certain whether Nigerian President Bola Tinubu is involved, internal communications do involve his team of aides:

This project has progressed quite deeply, and other countries have also contacted Kelsier, and may subsequently launch similar meme coin projects.

Wu said: If it weren't for the scandal of LIBRA, more 'presidential coins' would be in production?

In this regard, Colin Wu, editor-in-chief of blockchain media WuBlockchain, also expressed his views and said bluntly:

If it weren't for the Argentine president's currency being played out, the U.S. market-making team is probably mass-producing a bunch of 'presidential coins,' Nigeria is already preparing, and perhaps El Salvador is on the way.

As Davis revealed in another interview, the Argentine incident is an "experiment" for him, with something bigger happening behind the scenes, like "tokenizing a country".

Is Jupiter involved in the scandal with the law firm and FTX?

As for the allegations of insider trading, Jupiter claims to have hired the independent third-party law firm Fenwick & West to conduct an investigation and will release a report. However, Colin Wu revealed that the firm had been sued in the past for assisting in the FTX fraud case and is generally considered to be 'Sun Yuchen's favorite firm', once again raising community doubts about its credibility.

This meme coin scandal has not yet subsided, and whether Kelsier Ventures and Milei will be involved in more insider information remains to be developed.

This article, stockpiling, insider trading, presidential currency printing press? A glimpse into the dark secrets behind the LIBRA meme coin crash first appeared on Chain News ABMedia.