In a scandal, a breast coin marketer, Argentina President Javier Milei, a scandal in the crypto world confessed that he had acquired unfair profits by acquiring his Lıbra Token, which was connected to the President of the President of the President of the President of the Argentine, before launching it.
Libra Token Founder Hayden Davis told the facts
Hayden Davis announced not only LIBRA, but also in the marketing of another breast coin supported by Melania Trump last month. Introduced by Melania Trump, this Token, although it reached a market value of 2 billion dollars in a short time, then lost 90 %.
Davis, Youtuber Stephen Findinisen (Coffeezilla) in an interview, his team’s LIBRA and Melania Token’ları as soon as he put on the market, he said collectively said. This strategy, known as “Sniping” or “Front Running ında in the crypto world, is used to raise the value of tokens and provide great profit to people with information.
Davis said that the purpose of sniping is to prevent other investors from making early purchase. Sometimes he claimed that they use this method to provide a certain balance in tokens prices and to raise the price graph.
The breast coin sector is out of legal regulations
In regulated financial markets, it is illegal to prior information and market manipulation in previously based information, and can lead to heavy fines, license cancellations and even imprisonment. However, since there is no clear regulatory framework for breast coins, the legality of such transactions is uncertain.
Last Friday, after a sharing of Milei’s official account but later deleted, investors quickly headed to LIBRAKEN, and token’s market value reached $ 4.5 billion in one hour. However, token’s value fell by 80 %shortly after.
Davis admitted that his team had purchased a large amount and sold at a higher price and earned 100 million dollars from this process immediately after releasing LIBRAKEN’s tokens.
The reaction of the community
This development led to great anger among investors. Ash Crypto, who has a wide audience on social media, said, “A completely fraudulent game,” he said. He also stated that the stories that small investors have won millions with a few thousand dollars investment did not reflect the truth, and that the real gain went to the internal groups.
Davis claimed that two organizers of a Latin American technology conference called Tech Forum were involved in the release of LIBRA. However, Tech Forum did not comment on the subject.
Connections Rejected
Kip Protocol, one of the Tech forum sponsors, argued that they have no direct connections with LIBRAKEN. The company stated that they did not take any roles in the process of creating, management or release of token, and that they did not have any business relations with Hayden Davis before.
Representatives of Melania Trump and Donald Trump did not make any explanation. Milei could not be reached to comment.
Sales are planned in advance
Following the collapse of LIBra Token, some circles claimed that this launch was known in advance. Jupiter, a Solana -based defi application, made a statement in the Memecoin communities that a Token called ‘Argentina Coin’ was to be released at some point, ”he said. However, the team members argued that they did not know in advance about the timing of the launch.
When a new breast coin is released, early investors can make big gains if the price rises. For those who know that a high -profile name like Milei would support this token, this has given a great advantage.
Davis argued that there are always unfair advantages in the crypto market, underestimating the allegations that selected people were informed before the launch. “If you have an more ability to process on the chain, this is already an advantage in itself,” he emphasized that those who are strong in the market always have the greatest gain.
