[Trending News] One of the creators of the fraudulent cryptocurrency promoted by Milei says he agreed the campaign with the president

The American Hayden Mark Davis, one of the $ Libra drivers, the fraudulent cryptocurrency that Argentine president Javier Milei promoted on his social networks on Friday night and ended with the loss of millions of dollars by the more than 40,000 investors that they acquired it, issued a statement after the controversy in which it ensures that there was a planning prior to the launch with the president's team, which he was holding the Token collapse.

“Despite the previous commitments, Milei and his team unexpectedly changed position, withdrawing their support and eliminating all previous publications on social networks. This abrupt decision was taken without prior notice and contradicted the previous guarantees directly, ”he said in the text. In this way, Davis confirmed the existence of an agreement with the government prior to the publication made by the president in his networks and then deleted claiming not to be “internalized from the details of the project.”

Davis also assured that Liquidity will be injected again to Token, who has left more than 40,000 investors encouraged by Milei's messages after it was known that the property of most coins was in very few hands and that these holders were They will withdraw after achieving strong profits.

Meetings at Casa Rosada

As published by the president's office in a statement, on October 19, Milei met with the representatives of KIP Protocol in Argentina, where there was talk of “the company's intention to develop a project called 'Liva La Libertad' to finance private ventures ”using blockchain technology. In that meeting were Mauricio Novelli and Juan Peh as representatives of Kip Protocol, the presidential spokesman, Manuel Adorni, and Javier Milei himself.

Then, on January 30 of this year, the president held another meeting with Hayden Mark Davis, who, indicate, “as expressed by the representatives of KIP Protocol, would provide the technological infrastructure for his project.” Although, yes, they say that Davis “did not have or have any connection with the Argentine government”, although he indicates that he is an “advisor” of Milei.

“As a launch advisor to the Libra Token project, I want to clarify key aspects of launch and address recent developments on the participation of Javier Milei and his subsequent support retirement. Javier Milei initially supported and actively promoted Libra Token on social media platforms, including X and Instagram, ”Davis said in a message he published in the form of text and also on video.

“His associates had secured their public support in the launch and guaranteed that their support would continue throughout the process. Given my role as an advisor, my main responsibility was to ensure that the Token had enough volume, liquidity and a solid reserve fund to support its price and execute the vision of the project. However, there were many factors that were out of my control, ”he added.

“Despite previous commitments, Milei and his team unexpectedly reversed his position, withdrawing his support and eliminating all publications in social networks that backed him. This abrupt decision was taken without prior notice and contradicted the previous guarantees, ”said the trader In the @kelsierventures account.

Davis “categorically” rejected the subsequent statement of the Argentine president. “I want to emphasize that Julian Peh, founder of Kip Network and the main sponsor of Libra Token, is completely innocent of any improper act. I can only assume that Milei's associates tried to divert the guilt towards Julian to protect themselves from accountability, ”he said.

In addition, he gave an explanation to the fall of the cryptocurrency: the withdrawal of the support of the Milei team. “Investors who had bought the Token trusting their support were betrayed. This caused a wave of mass sales, which exacerbated the situation further. The sudden loss of confidence had a catastrophic impact on the stability of the Token market. ”

Davis said he will not take “none of those funds” for his “personal benefit” and proposed “reinvest 100% of the funds under my control, up to 100 million dollars, again in Libra Token and burn the entire offer bought. Unless a more viable alternative is presented, I intend to execute this plan within the next 48 hours. I remain committed to transparency and I will continue to provide updates as the situation develops. ”

After what happened, various experts have stressed that, unlike consolidated cryptocurrencies such as Bitcoin or Ethereum, which operate in decentralized networks with robust security mechanisms, $ pound is just a memecoin or token created inside the blockchain of the solana platform, without real value guarantees or stability. Memecoins are usually highly speculative and vulnerable to steep price falls, so investing in them represents a very high risk.

At the same time, one of the American firms specialized in crimes with cryptocurrencies, Burwick Law, has published in networks a notice in which it offers advice to affected people. “If you have lost money in $ Libra, contact Burwick Law to know your legal rights. Our firm represents thousands of customers who want to recover their money for cryptocurrency losses, ”announced the company based in New York.

The government will investigate itself

In front of the scandal, which generated questions throughout the political arch and fired even requests for trial, the president of the president of Argentina issued an official statement. He detailed the previous meetings that Milei maintained with the developers of the $ LIBRA project and announced a series of measures for the “clarification of this fact until the last consequences.” According to the statement, the Argentine government will implement two actions:

Intervention of the Anti -Corruption Office (OA) to, as they said, to analyze if there was any improper conduct by government officials, including that of the President
Creation of the Research Task Unit (UTI) under the orbit of the Presidency, composed of representatives of organisms specialized in cryptoactive, financial activities and prevention of money laundering

Regarding what happened when Milei shared the publication in his networks, from the office they indicate that it is something that does “daily with many entrepreneurs”, and that in this case, he did it “having not been part of any instance of the development of the cryptocurrency , after the repercussions that the launch of the project had and to avoid any speculation and not give more diffusion, he decided to eliminate the publication. ”

In the same text, where they add the measures that the government intends to take, ensure that the information “collected in the investigation will be delivered to justice.”