Argentine President Javier Milei's LIBRA meme coin scandal continues to escalate, with reports showing that the team behind the token had planned to collaborate with the Nigerian government to develop a similar project. However, after the LIBRA scandal erupted, this plan is now unlikely to be realized.
(LIBRA Chaos Continues! Jupiter Employee Involved in Insider Trading, Argentine President Denies Promotion: Just Sharing, No Promotion)
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ToggleLIBRA Chaos Reveals Larger Cross-Border Plan
As the LIBRA scandal escalates, including law firms led by Bruwick Law announcing collective lawsuits against Argentine President Milei, the domestic opposition in Argentina is considering impeaching Milei, accusing him of colluding with multiple cryptocurrency companies, involving amounts up to hundreds of millions of dollars and causing significant losses to tens of thousands of people.
Among them, a US-based company called Kelsier Ventures is particularly noteworthy.
(Searching for the Mastermind Behind Argentine President's Meme Coin LIBRA: Latest Relationship Map, KIP and Kelsier's Response)
Hayden Interview Reveals Doubts: TRUMP, MELANIA and LIBRA All Have a Slice of the Pie?
On Monday, an interview video with Kelsier Ventures CEO Hayden Davis was released, in which he tried to downplay the incident, stating that meme coins are inherently high-risk investments and that there are many conflicts of interest within the cryptocurrency market.
Davis revealed that before the LIBRA launch, the team had indeed sent LIBRA tokens to multiple KOLs in exchange for promotion and marketing of the token.
He also admitted to being involved in the recent launch of Melania Trump's meme coin MELANIA, and revealed that insiders of the TRUMP token had already participated in a private placement with a $500 million fully diluted valuation (FDV) at a cryptocurrency gathering before the token's launch.
Nigeria Meme Coin Plan Exposed, May Involve Government Officials
The report cites sources saying that Kelsier Ventures had also collaborated with the Nigerian government to plan the launch of a new meme coin on Solana.
While it is currently unclear whether Nigerian President Bola Tinubu was directly involved, the internal communications did involve his staff team:
This plan has already progressed quite deeply, and other countries have also contacted Kelsier, potentially leading to the launch of similar meme coin projects.
Wu Says: If Not for the LIBRA Scandal, More "Presidential Coins" Are Being Produced?
Regarding this, Colin Wu, the editor-in-chief of blockchain media WuBlockchain, also shared his views, directly stating:
If it weren't for the Argentine presidential coin fiasco, this market-making team in the US might be mass-producing a bunch of "presidential coins", with Nigeria already in the planning stages, and perhaps El Salvador on the way.
As Davis revealed in another interview, the Argentine incident was an "experiment" for him, with larger things happening behind the scenes, such as "tokenizing an entire country".
Is Jupiter Involved in the FTX Scandal through the Law Firm?
Regarding the insider trading allegations, Jupiter claimed to have hired independent law firm Fenwick & West to conduct an investigation and release a report. However, Colin Wu revealed that this firm had previously been sued for assisting in the FTX fraud case and is widely regarded as "Justin Sun's favorite law firm", further raising community doubts about its credibility.
This meme coin scandal is far from over, and it remains to be seen whether more inside information will be exposed involving Kelsier Ventures and Milei.
Risk Warning
Cryptocurrency investment carries high risks, and its price may fluctuate dramatically, potentially resulting in the loss of your entire principal. Please carefully evaluate the risks.
