Editing Kelsier Ventures

**Kelsier Ventures** (also **Kelsier Labs**) is a Los Angeles-based crypto firm, led by chief executive [[Hayden Davis]], that helped launch the [[Libra]] token promoted by Argentina's president in February 2025.[^1][^2] It and the Davis family are defendants in a US class action alleging that LIBRA, [[Melania Meme]] and other tokens were launched as a coordinated scheme; they deny wrongdoing.[^2][^3]

## History
A since-deleted LinkedIn profile described Kelsier as a "web3 innovation" company.[^1] Cointelegraph reported that it was co-founded by Hayden Davis and his siblings Gideon and Thomas Davis; a US court ruling report calls the firm Kelsier Labs LLC.[^2][^4]

## LIBRA and MELANIA
Davis said Kelsier was tasked with "ensuring liquidity" for LIBRA and that he controlled its fees and treasury funds; he withdrew about $100 million from its liquidity pool after the launch, which he said was to limit snipers, and said the money was "Argentina's".[^1] He also said he helped launch the MELANIA token in January 2025.[^1] On 17 February 2025 [[Bubblemaps]] said it was "highly confident" one entity ran both launches, linking a wallet that made over $2.4 million [[Sniping|sniping]] MELANIA to LIBRA's creator wallet.[^5] In August 2025 it alleged that wallets linked to Davis made $12 million sniping Kanye West's [[YZY]] token, while saying it could not confirm insider information.[^6]

## Litigation
On 17 March 2025 [[Burwick Law]] filed a class action in the Supreme Court of New York against Kelsier Ventures, [[KIP Protocol]] and [[Meteora]], alleging a "deceptive, manipulative and fundamentally unfair" launch in which insiders drained about $107 million from one-sided [[Liquidity pool|liquidity pools]].[^2] A federal temporary restraining order froze about $57.6 million in USDC held in wallets controlled by Davis and Meteora co-founder [[Ben Chow]]; Judge Jennifer L. Rochon lifted it in August 2025, finding the plaintiffs had not shown irreparable harm.[^4] An amended complaint reported on 23 October 2025 named Chow, Meteora, Kelsier, and Hayden, Gideon and Charles Davis, alleging at least 15 tokens followed the same pattern and focusing on LIBRA, MELANIA, ENRON, TRUST and M3M3.[^3] Davis's lawyer called the case "meritless".[^4]

## Timeline
- 2025-02-17: Bubblemaps links LIBRA and MELANIA launches[^5]
- 2025-03-17: Burwick Law files class action[^2]
- 2025-08-19: court lifts freeze on $57.6 million USDC[^4]
- 2025-08-25: Bubblemaps alleges Davis-linked YZY sniping[^6]
- 2025-10-21: amended complaint names Ben Chow and the Davis family[^3]

## See also
- [[ZachXBT]]
- [[JELLYJELLY]]
- [[Broccoli]]
- [[Sahil Arora]]
- [[Hawk Tuah]]
- [[Rug pull]]
- [[Bundling]]

## References
1. [Who is Hayden Davis? Milei and Melania partner says he doesn't want $100m stash](https://www.dlnews.com/articles/people-culture/man-behind-milei-memecoin-also-worked-on-melania-trump-coin/), DL News, 2025-02-20
2. [LIBRA memecoin orchestrators named as defendants in US class-action suit](https://cointelegraph.com/news/burwick-law-file-class-action-libra-memecoin-scandal), Cointelegraph, 2025-03-18
3. [Class action lawsuit claims Ben Chow orchestrated Melania, LIBRA memecoin fraud](https://www.theblock.co/post/375832/ben-chow-melania-libra-memecoin), The Block, 2025-10-23
4. [Libra Promoters Regain Access to $57.6 Million in Crypto After Judge Unfreezes Assets](https://decrypt.co/336060/libra-promoters-regain-access-57-6-million-crypto-judge-unfreezes-assets), Decrypt, 2025-08-20
5. [Bubblemaps links single entity to Libra and Melania memecoins](https://www.theblock.co/post/341238/bubblemaps-links-single-entity-to-libra-and-melania-memecoins), The Block, 2025-02-17
6. [LIBRA token 'facilitator' earns $12 million sniping Kanye West memecoin: Bubblemaps](https://www.theblock.co/news/ecosystems/2025-08-25-libra-token-facilitator-earns-12-million-sniping-kanye-west-memecoin-bubblemaps-368164), The Block, 2025-08-25