Hayden Davis, the guy responsible for launching the now-infamous Argentinian meme coin $LIBRA, says he’s sitting on $100 million in missing funds and doesn’t know what to do with it.
In an interview with crypto investigator Coffeezilla today, Hayden claimed that the entire thing spiraled out of his control after President Javier Milei publicly endorsed the token, only for the market to crash almost immediately.
Hayden, who described himself as a “launch strategist” rather than the mastermind behind the project, said he has been under intense scrutiny, receiving threats, accusations, and pressure from all sides.
He claimed that he never had any intention of running off with the money and is waiting to hear from the Milei administration, but with government officials staying silent, the fate of the funds remains uncertain.
Hayden also believes that the way Javier handled the situation is why the token failed, accusing the president of lying when he said he didn’t know much about the project and was just trying to support them like he tends to with small businesses.
Both Hayden and Jupiter exchange have said that Javier was in on the creation of $LIBRA right from the beginning, which is around 3 weeks ago.
Javier’s endorsement, the market crash, and the vanishing act
Javier tweeted his support for $LIBRA on Friday night, triggering a massive speculative rush as investors scrambled to buy into what many assumed was a government-backed meme coin.
But within hours, $LIBRA’s value plummeted, wiping out $4.6 billion in what is now the largest crypto rug pull in history.
Javier then quickly deleted his tweet and distanced himself from the project, providing a very vague explanation for the sudden turnaround, and he has mostly been silent ever since.
The backlash has been intense. Argentinian lawmakers have called for Javier’s impeachment, investors are demanding refunds, and over a dozen law firms have sued him. Not to mention the damage this has done to his reputation.
You see, Javier is something of an economic genius, and a libertarian. He has managed to do with Argentina what no president has ever done, which is to actually fix its economy and make the peso “great again,” or maybe just “great,” since realistically, it’s never been great before. Now Javier’s a meme, a joke, and even his closest allies are publicly slamming him.
Inside the launch: Snipers, insiders, and allegations of market manipulation
Moving on, Hayden admitted that $LIBRA’s launch was plagued by insider trading and sniping, with algorithmic traders and select individuals securing massive allocations before retail investors could react.
He described the process as a predatory system where sophisticated traders use bots to buy up large amounts of tokens within milliseconds, artificially inflating prices before dumping their holdings onto unsuspecting buyers.
“Every single meme coin launch gets sniped. It’s unavoidable,” Hayden said. “A handful of elite traders figure out how to extract liquidity before the public even has a chance.”
But he didn’t deny that insiders had access before the public. Hayden acknowledged that some individuals were aware of the launch in advance and had positioned themselves accordingly. “I can’t say nobody knew,” he admitted. “There were people who were in on it before the public. That’s how every meme coin works.”
The sniping issue wasn’t unique to $LIBRA. Other high-profile political meme coins—including the Melania Trump token (which Hayden was also a part of creating)—were also structured in ways that benefited insiders first, according to Hayden. “The biggest guys always win,” he said.
$100 million in limbo with no plan to return it
The biggest unanswered question is what happens to the $100 million that Hayden is holding. Investors who bought into $LIBRA at its peak want their money back, but Hayden said there is no clear process for refunds.
Hayden outlined four possible options for dealing with the funds:
No refunds, and instead donate the money to an Argentinian nonprofit.
A refund process, though tracking individual losses would be complex and time-consuming.
Re-injecting the $100 million into the market, essentially artificially pumping $LIBRA’s price back to its all-time high.
A hybrid solution, distributing funds while also supporting the token’s market stability.
But Hayden also acknowledged that re-injecting money into the market could create another insider opportunity. If traders knew that a massive buy order was coming, they could purchase the token in advance, ride the price increase, and dump at the peak—repeating the cycle of market manipulation.
“If I announce the money is going back in, every trader with a brain is going to buy the dip and profit off it,” Hayden said. “It just creates another insider trading situation.”
He also claimed that he can’t hand over the money yet because it’s the only “leverage” he has left in negotiating with government officials. “If I give up control of the money, I lose any power I have in this situation,” he said. “I need answers from Javier’s team before I make a move.”
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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