New Facts Libra Coin Scandal: Co-Creator Admits Transfer of Funds to President Milei's Sister

Bittime - The Libra Coin scandal is back in the spotlight after a text message reviewed by CoinDesk revealed that Hayden Davis, CEO of Kelsier Ventures, claimed to have transferred funds to Karina Milei, sister of Argentine President Javier Milei. Davis even claimed that he had full control over President Milei thanks to the transaction.

In a message sent in mid-December, Davis stated that he could get Milei to sign any document he wanted.

This claim adds a new dimension to the ongoing anti-corruption investigation into the Milei administration. However, Davis later denied the allegations and stated that he had never sent the message.

The Libra Coin Scandal and Its Impact on Argentine Politics

Davis's claims came amid an investigation into Libra Coin, a Solana-based digital asset that had skyrocketed before eventually plummeting more than 95%. 

The project was originally marketed as a new way to fund small businesses in Argentina, but in reality, only a handful of parties reaped huge profits from the launch.

Read also: Argentine President Denies Promoting Libra Rug Pull Token

Kelsier Ventures, a company led by Davis, is known to have earned more than $100 million in the first few hours after the launch of the Libra Coin.

However, after President Milei deleted his tweet of support for Libra, the price of the digital asset fell dramatically, causing huge losses for speculative investors. The incident also prompted the Argentine opposition to consider impeaching Milei.

Denial from Hayden Davis and Related Parties

After the publication of the report on the scandal, Davis, through his spokesman, Michael Padovano, stated that he did not remember sending a text message indicating a transfer of funds to President Milei's sister. He also emphasized that no payments had been made to President Milei or his family.

“Media reports that I made payments to President Javier Milei or Karina Milei are completely untrue,” Davis said in his statement. He added that the Libra Coin project was designed for the benefit of the Argentine economy and not for personal or political gain.

However, to date, Karina Milei's office has not made any official comments regarding the alleged transfer of funds. In addition, there is no concrete evidence to suggest that there was any exchange of money between Davis and President Milei's inner circle prior to the launch of Libra Coin.

Read also: Promoting LIBRA Coin: Argentine President Accused of Fraud!

Market Reaction and Next Steps

The scandal has had a major impact on Argentina's financial markets. The country's stock market value is under pressure, while the global crypto community continues to highlight the case as an example of market manipulation that harms investors.

The Argentine government is now in a difficult situation, trying to deal with the impact of this alleged corruption. Meanwhile, the digital asset community continues to follow developments in the investigation into Libra Coin and the role played by the political figures behind it.

With all the information that has emerged, this case is far from over. Is there direct involvement from President Milei? Or is this just a political game aimed at bringing down the current administration? Only time will tell.

FAQ

What is the Libra Coin scandal involving the President of Argentina?

The Libra Coin scandal is a controversy regarding the alleged transfer of funds from Libra Coin co-creator Hayden Davis to Karina Milei, sister of Argentine President Javier Milei, prior to the launch of the coin.

What is the impact of the Libra Coin scandal on the Argentine government?

The scandal sparked an anti-corruption investigation, caused political turmoil, and disrupted Argentina's financial markets, with the opposition threatening to hold an impeachment hearing.

What are the latest developments regarding the Libra Coin scandal?

Hayden Davis denied making payments to President Milei or his sister, while authorities are still investigating the involvement of related parties.

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Reference

Yahoo news, Libra Token's Co-Creator Claimed He Paid Argentinian President Milei's Sister, accessed February 19, 2025.

Author: AWW