- Hayden Davis, CEO of Kelsier, claims to hold $ 100 million from the launch of failing balance tokens approved by Argentinian president Milei
- The balance token crashed $ 4 billion after the promotion of Milei, then moved away from the project
- Davis claims that it was not a carpet traction but a “plan that went wrong” – pending the second promotional video of Milei who never came
- Channel analysis has found $ 87 million in ground and USDC on five Liquidity Pools portfolios
- The team admitted to having “fired” at launch to prevent prices handling by others
The cryptocurrency market was faced with another high-level incident as a balance, A token -based token approved by Argentinian president Javier Mileicrushed a market capitalization of $ 4 billion on Friday, leaving its chief advisor holding $ 100 million in assets.
Hayden Davis, the 28 -year -old CEO of the cryptographic marketing company Kelsier, has become a central figure in the controversy. Davis claims that he is now a custodian of $ 100 million in digital assets from the failed launch, declaring that he would like instructions on what to do with it. “
The incident started when President Milei promoted balance in an article on X (formerly Twitter), appealing to a token “dedicated to encouraging the growth of the Argentine economy”. The position was then deleted and Milei has since denied knowledge of the creation of the project.
The Bubblemaps chain analysis company followed five digital portfolios containing $ 87 million from Solana and USDC Stablecoins. These funds come from the abolition of liquidity of commercial pools which have enabled balance transactions. From the latest data, three portfolios still hold $ 82.9 million in assets.
The launch team admitted to having used “sniping” tactics when leaving the token. Davis explained that it had been done to prevent other traders from manipulating the price. The strategy involved beating other traders to buy the token first, aimed at maintaining price stability.
Interview with bar stools
In an interview with the founder of Barstool Sports, Dave Portnoy, Davis revealed that the original plan included a second promotional video of President Milei before reinvesting the extracted funds. This second approval has never materialized.
Who is $ 100 million money on which Hayden is currently sitting? pic.twitter.com/mkmq6rck8p
– Dave Portnoy (@Stoolpresident) February 17, 2025
Davis maintains that the collapse of the balance was not a deliberate plan to defraud investors. “It is not a carpet traction,” he said to YouTuber Coffeezilla. “This is a plan that is miserably badly compared to $ 100 million in the account of which I am a goalkeeper.”
https://www.youtube.com/watch?v=eqizjtbxaem
The token value fell by more than 90% within 24 hours of its launch. This rapid drop has erased billions of market values and led to charges of market manipulation and initiate negotiation.
In -depth investigation by Bubblepaps Balance connected to other cryptocurrency projects, including Melania,Enron and Bob. The analysis suggests a coordinated price handling scheme on several portfolio addresses.
1 / How $ Libra was created by the same team behind Melania and other short -term parts
Presenting new evidence from Onchain
A thread with Coffeezilla 🧵 ↓ pic.twitter.com/gnwj97kapf
– Bubblemaps (@Bubbleps) February 17, 2025
Davis recognized its involvement in the launch of Melania same corner, but denied it. “We were certainly not the big sniper,” he said. “We did not earn any money. There was no money at the Melania team. »»
Argentinian lawyers have filed fraud complaints following the incident. The legal implications for President Milei and Davis remain vague as the investigations continue.
Two portfolios associated with the project were emptied. These accounts previously held around $ 881,500 and $ 891,500 in USDC respectively, according to Solscan data.
Davis expressed his concerns about his security in his interview with Coffeezilla, saying that he fears to become “the number one public enemy” in what he describes as a “political drama of several billion dollars”.
Dave Portnoy revealed that Davis had sent him 6 million tokens for the launch. Portnoy then returned these tokens to their source.
The case drew attention to the role of political figures in the promotions of cryptocurrencies. President Milei is now faced with accusations of criminal fraud for his involvement in promoting the token.
