Did you see that LIBRA launched per week in the past with backing from Argentinian President Javier Milei? He initially made a number of posts supporting it however later deleted them, withdrawing his endorsement.
It turns on the market’s a great rationalization. A gaggle of so-called grifters, largely based mostly in Los Angeles, USA, often called Vape Cabal on “Crypto X,” used the launch to control the market and efficiently extracted thousands and thousands.
Expensive god Javier Milei’s $LIBRA drained over $280 MILLION USD from practically 75,000 particular person merchants. Simply have a look at these numbers: from 1000s to 10s of 1000s to MILLIONS of {dollars}… rug-pulled in hours. Rip-off of the century in Argentina. pic.twitter.com/KGELU8wgXT
— David Adler (@davidrkadler) February 17, 2025
Kelsier Ventures, Aka Hayden Davis Behind The LIBRA Rip-off?
Shortly after Libra launched, it hit a $4.6 billion market cap as Javier Milei confirmed assist. Speculators hoped it might mimic Trump token’s preliminary success, however the value crashed 97% inside hours, dropping to a $150 million market cap. Traders misplaced every little thing as insiders executed a rip-off, hoarding provide and dumping on consumers.
An X account known as Kelsier Ventures , run by Hayden Davis shared an evidence of the Libra state of affairs, but it surely wasn’t completely true. Leaked messages later confirmed him saying, “Yeah, we’re attempting to max extract on this one, lads,” suggesting they deliberate to take as a lot cash from retail traders as doable.
“Yeah fellas tbh we try to max extract on this one.”
– Hayden Davis pic.twitter.com/e3jL1ZUpvg
— Beanie (@beaniemaxi) February 18, 2025
Davis additionally went on a number of podcasts and not using a lawyer, making statements that solely made him look worse. In brief, he and his group, the LA-based “Vape Cabal,” have been scamming individuals in crypto, making a whole bunch of thousands and thousands, if not billions.
In Libra’s case alone, they made $107 million—at the least from what’s been uncovered.
Jail Time Incoming for Hayden Davis?
As Hayden Davis continues to incriminate himself on podcasts, extra particulars about his crypto schemes are coming to gentle. It was revealed that he charged 1% of any venture’s tokens he helped launch and admitted to sniping each launch he labored on. This implies his actual minimize was possible 3-10%, growing his income.
As well as, he confirmed his involvement within the Melania and Trump tokens, even sharing contract particulars earlier than launch with buddies. With simply these three tasks, he and his group might have made billions—all whereas displaying zero regret for extracting wealth from retail traders.
However Davis didn’t simply expose himself—he additionally threw Donald Trump underneath the bus. He claimed that, throughout a personal dinner at Trump’s property, insiders may purchase Trump tokens at a $500 million market cap earlier than launch. Because the token hit a $75 billion market cap, that’s a 150x return for these early consumers.
So, the large query: Will Hayden Davis face jail time, or has crypto crime change into authorized now?
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