LIBRA Token Scandal: Davis Details Launch & Fund Removal

• Davis explains the LIBRA meme coin’s failed launch strategy & liquidity removal concerns.
• LIBRA token launch faced sniping issues, political uncertainty, and major liquidity moves.
• Davis insists he didn’t take the LIBRA coin funds but is uncertain who owns them.

A conversation between Barstool Sports founder Dave Portnoy and Hayden Davis revealed crucial details about the planned strategy behind the $LIBRA token launch. Davis outlined a three-stage promotional plan that ultimately faltered due to unexpected developments.

The first stage centered on President Milei’s initial tweet supporting the token. For the second phase, Davis explained that Milei’s team had promised a video endorsement, though this commitment came through intermediaries rather than directly from Milei himself. The third stage would have featured promotional support from several influential figures, whose identities Davis chose not to disclose.

Davis detailed his concerns about large-scale sniping during the launch, particularly regarding one wallet that acquired 1.7 million tokens. At the market peak, this position was worth between $55-60 million. Davis admitted to directing liquidity removal more aggressively than planned due to concerns about this substantial position.

When questioned about the current status of the removed funds, Davis emphasized repeatedly that the money isn’t his, stating “I’m not running off with the money, I have no desire to run off with the money.” However, when pressed about ownership, Davis expressed uncertainty, suggesting it belongs to “Argentina” or “Milei’s team.”

Davis revealed that a third-party journalist documented key meetings as a safety measure, anticipating potential complications. He mentioned receiving specific instructions not to reinject liquidity until Milei’s second video appeared. The situation became more complex when Milei deleted his initial tweet and distanced himself from the project.

Related: Milei’s LIBRA Token Faces Pump-and-Dump Allegations

A gist of the Coffeezilla interview

In his broader conversation with Coffeezilla, Davis provided additional context about the launch strategy, project mechanics, and current challenges facing the token. He outlined various options for managing the removed liquidity while acknowledging the complexities and potential drawbacks of each approach.

Davis compared the scenario to banking, where projects essentially “rob themselves first” to protect against external threats, though this raises questions about trust and eventual fund redistribution. He acknowledged making millions from previous launches but maintained that the LIBRA situation was different due to political implications and personal safety concerns.

Davis also confirmed his involvement in other notable launches, including the MELANIA token, though he emphasized different operational approaches for each project. He described his role as a “launch strategist” rather than a team member.

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