Kelsier CEO Hayden Davis, the brain behind the controversial Libra Memecoin, also launched Melania Memecoin, saying the team aimed for both tokens as soon as the contract address was released.
Libra was released on Friday, and a tweet of support from Argentine President Javier Milei says it will support small businesses in the country. His backtrack to the project prompted a 95% entry into the value of the token.
Snipering is when people use bots to purchase memokine just seconds after a smart contract is published. Snipe funds wallets are often the majority of profits.
The token “is not a rug pull,” Davis claimed in an interview with Crypto fraud hunter Coffee Zilla. “It’s just that the $100 million I’m sitting on my custodian account is a miserably wrong plan.”
Profits created from Melania liquidity
It turns out this wasn’t Davis’ first rodeo. He was also involved in the launch of Melania Memocoin linked to our First Lady Melania Trump.
“I’m happy to share the truth. You’re asking me a lot of questions that put me at risk, and I’ll answer them,” Davis said when he asked about Melania. . “I was part of it. I think the team wanted to snipe it because it was the size of Trump’s sniper. We were definitely not a big sniper. Melania’s team. I didn’t make any money from it. Please turn T to zero.”
Davis appeared to contradict himself shortly after facing on-chain data. “We didn’t exchange liquidity () we didn’t say there was no money sold. There’s a difference between exchanging liquidity and selling liquidation.”
Melania is currently trading at a market capitalization of $625 million after debuting on January 20th at $2.1 billion.
Refunds…for insiders
The controversy surrounding Libra continued as Davis sent Barstool Sports founder Dave Portnoy a $5 million refund after Portnoy lost money on Libra.
During a conversation with Coffeezilla, Portnoy said he knew about the project a few weeks before its release and bought the token 10 minutes after Milei’s tweet.
Portnoy knows Libra very quickly and has since received a refund, which causes the ghost of insider trading. But Davis dismissed that idea.
“Insider ideas are always bullshit because all the memo coins I’ve known, invested, or part of them, are people who know who are profiting… People building deals.
“(It’s) similar to other businesses in the world. So I think it’s the angry cryptography people because it’s a bit of a bullshit and it has an unfair advantage.”
Coindesk contacted Davis and Portnoy for comment but did not receive a reply at the time of publication.
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