It all began on February 14th when Argentina’s president, Javier Milei, tweeted about an official token.
This triggered a buying frenzy that sent the LIBRA token’s market cap soaring to $4 billion. However, this euphoria was short-lived, as the token’s value plummeted. This led to a staggering $200 million being drained from the crypto space.
Hayden Davis and Meteora: Key Players in the $LIBRA Scam
At the center of this chaos is Hayden Davis, CEO of Kelsier, who played a pivotal role in launching the $LIBRA token and advising President Milei. The plot thickens with evidence linking Meteora, a tech support company, directly to the scam. After Kelsier was exposed for market manipulation involving $LIBRA, $MELANIA, and M3M3, the founder of DefiTuna returned $30,000 to Kelsier and severed ties, clearly trying to distance himself from the fallout.
Hayden Davis, CEO of Kelsier, a fund coordinating company
Was behind the $LIBRA launch and advised President Javier Milei.
But this goes deeper
Evidence points to direct involvement from Meteora.
(3/9) pic.twitter.com/D4ucAX2vQ9
— StarPlatinum (@StarPlatinumSOL) February 18, 2025
Reports indicate that Meteora’s team, including co-founder Ben, was complicit in helping influencers profit while the community suffered. Davis’s involvement didn’t stop there; he also participated in the M3M3 launches, pulling millions from the ecosystem.
For $MELANIA, the Meteora team reportedly reaped 1% (around $100 million at its peak) for providing liquidity pool support. When Davis attempted to cash out through Orca NFT, someone traced his actions back, raising red flags across the board.
Hayden was also involved in M3M3 launches
Extracting millions
For $MELANIA, the Meteora team got 1% ($100M peak) for LP pools.
Hayden tried to cash out through Orca NFT, but it was traced back.
Ben and the Meteora team were in on it and did nothing.
(5/9) pic.twitter.com/UsXN8QYzvh
— StarPlatinum (@StarPlatinumSOL) February 18, 2025
Meteora’s Defense Crumbles Amid Exposé of $LIBRA Manipulation
As the scandal unraveled, Ben asserted that Meteora played a strictly technical role and that the company did not engage in trading or leak information about $LIBRA. However, the situation escalated when Solana Floor released a video exposing Kelsier’s detrimental impact on the ecosystem and showing how Meteora was dragged down in the process. Ben revealed that he had prior knowledge of the manipulation but felt pressured by Kelsier not to intervene.
🚨 BREAKING: SolanaFloor has obtained exclusive video evidence exposing a $200M+ memecoin extraction scheme tied to @KelsierVentures , @MeteoraAG and @WEAREM3M3_ .
The footage, featuring DeFi Tuna Founder @CavemanDhirk and Ben Chow, lends further credibility to allegations of… pic.twitter.com/rjPLBgKCjG
— SolanaFloor (@SolanaFloor) February 17, 2025
In the wake of the scandal, Meow, co-founder of JUP and Meteora, defended Ben but acknowledged that he erred in referring projects to Kelsier. Following the chaos, Chow resigned, leaving Meteora to scramble for new leadership while the ecosystem siphoned off millions.
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