- A memecoin marketing specialist admits the execution of the balance token that he helped to launch, benefiting from $ 100 million.
- Argentine president Javier Milei approved the medal on Friday.
- The same Balance responsible team also launched a same for Melania Trump last month.
A specialist in crypto marketing who orchestrated the launch of a same associated with the president of Argentina, Javier Milei, faces the backlash to manipulate the price of the token and offer initiates unjust advantages.
Hayden Davis admitted to being part of a team that launched several even high -level memecoins, including a Melania Trump published last month, which climbed to a market value of $ 2 billion before crashing 90%.
In a interview With Youtuber Stephen Findeisen, known online under the name of Coffeezilla, Davis said that his team had bought the Balance tokens and Melania immediately after having launched them, a movement known in the crypto circles under the name of a sniper or transfer.
“When we draw shooters, we try to prevent other elite shooters from entering,” said Davis.
“Often, it is to protect – and if there is enough volume – to remove it so that people can have a chance to back down the table.”
Outside the law
In regulated financial markets, forehead And market manipulation are often illegal, with sanctions, including heavy fines, license revocations and potential criminal charges.
But for even, which operates outside of any regulatory regime, it is not clear if these rules apply.
Friday, investors piled up in the balanced token, which received a since deleted Milei approval and led him to a $ 4.5 billion Market value in an hour.
But shortly after, its price suddenly crushed 80%.
Davis said that his team, who launched the same, had sold the hiding place they had obtained by Levant transport and pocketed $ 100 million.
“It’s all damn of a mounted man”, Ash Crypto, an influencer with more than 1.6 million followers on X said Balanced token.
“All these stories on a guy (who) won $ 1,000 and have made $ 5 million in memes, it’s full bullshit and they are all initiates.”
In the interview, Davis said that in addition to him, two Tech Forum organizers, a technological conference based in Latin America, were also involved in the launch of the balance.
Tech Forum did not immediately respond to a request for comments.
Refused
In a declaration shared with DL NewsKip Protocol, a company that sponsored the Tech Forum conference, denied any direct involvement in the balanced token.
The firm said that it “had not launched the project, had not managed or directed the launching process and did not receive tokens before or after launch”.
The company also said that it had no transaction with Davis before it.
DL News did not independently verify these claims.
The representatives of Donald Trump and Melania Trump did not immediately respond to a request for comments.
Milei could not be joined to comment.
A “Polichinelle secret”
After the balanced token crashed, several parts said they had known the launch in advance.
“It was a secret of a polichinelle in the same circles that a” coin of Argentina “was going to launch at one point,” said Jupiter, an Solana Défi application, said In a declaration on X.
Jupiter said none of his employees were going to launch in advance.
“We conducted our own investigation and we cannot find any proof of shooting by the team members,” said the position.
“The people who benefit the most are the people who structure the agreement.”
– Hayden Davis
When a new same same starts, those who buy it early on to behave the biggest return if the same continues to increase prices and they manage to sell it early enough.
Understand that the balance was going to be launched and would be approved by a high -level figure like Milei gave those who are unjust advantage to take advantage of the launch.
When Findeisen asked Davis the launch shared with some people in advance, he pushed back the idea that he did something wrong.
“There is always an unfair advantage,” said Davis, “there is an unfair advantage if you are an onchain genius.”
“The people who benefit the most are the people who structure the agreement. People who go crazy are not initiates. »»
Introductory reimbursements
It is not only Davis who shares the launch of the balance in advance with initiates who attracted people’s anger.
The personality of social media, Dave Portnoy, who recently started to promote Memecoins, said in an X post that Davis had personally reimbursed him for $ 5 million he had lost by investing in the balanced token.
“Hayden clearly said he paid me with his personal money”, Portnoy said In a post X. “If you are stolen and someone is like” I can recover your shit “, you take it.”
“Market players now look like butterflies.”
– Jordan
In the interview with Findeisen, Davis said that Portnoy’s reimbursement was an “error”.
In a video Published on X, Davis said that he planned to use the $ 100 million of which his team took advantage of the pioneer to buy swings on the market to try to reward investors.
“My intention is to inject everything into the scales,” he said.
Investors “similar to butterflies”
Evencoins has climbed popularity in the past year and a half. These tokens, generally based on a popular figure or an online joke, often explicitly detach themselves from any promise to obtain value.
High -risk investors accumulate in the same due to their extreme volatility and the potential for buyers to earn money quickly.
The first mecoins like Dogecoin were created as jokes and were never intended to achieve evaluations of several billion dollars.
The more recent same, however, are often very coordinated efforts with dedicated marketing teams, in order to take advantage of the star power of famous individuals.
In December, the initiates sold millions of dollars of Hawk Tuah token of influencer Haliey Welch, crushing its price.
Know scams
Investors in such even even understand that they are faked by initiates, but buy them anyway, according to Jordan Fish, founder of the crypto investment platform at an early Echo stage.
“Market players now look like papers,” he said. “They actively rush into these scams, mainly knowing that they are scams, because the objective is to return the scam for a 3X to someone else.”
Nic Carter, a general partner of the investment company of Crypto Castle Island Ventures, said that the indignation directed against the balance is the bad set of initiates benefiting.
“The belly around the room Milei Balance is simply that it was launched by an external group and enriched nobody in the group”, he said In a post X.
“If it is the catalyst for having finally abandoned even, it is for the best and we should all write to him a thank you letter.”
Tim Craig is DL News’ DEFI correspondent based in Edinburgh. Handle with advice Tim@dlnews.com.