Editing Libra

**Libra** (ticker **LIBRA**) is a [[Solana]] token promoted by Argentine president Javier Milei on 14 February 2025 that collapsed within hours of launch.[^1][^2]

## Lore
Milei posted about LIBRA on X, presenting the "Viva la Libertad" project as a way to fund small Argentine businesses and startups, with a link to its site and contract address.[^3] The token had been created minutes before the post.[^4] It reached a $4.56 billion market cap at 22:30 UTC on 14 February, per [[DEX Screener]], then fell more than 94% to about $257 million within roughly 11 hours.[^1] Milei deleted the post and said he had shared it without knowing the project's details.[^3]

According to Lookonchain, at least eight wallets linked to the team took about $107 million in USDC and SOL by adding and removing liquidity and claiming fees.[^1] [[Bubblemaps]] reported that the team ran one-sided LIBRA pools on [[Meteora]] and removed more than $87 million.[^2] [[Kelsier Ventures]] CEO [[Hayden Davis]], who met Milei at the Casa Rosada on 30 January 2025, described himself as the project's launch strategist, said "it's not a rug" and admitted the launch was sniped by insiders.[^3][^5]

## Timeline
- 2024-10-19: [[KIP Protocol]] representatives meet Milei about the project[^3]
- 2025-01-30: Hayden Davis meets Milei at the Casa Rosada[^3]
- 2025-02-14: Milei posts; LIBRA peaks at $4.56 billion and collapses[^1]
- 2025-02: Argentine prosecutor opens an investigation; opposition calls for impeachment[^3]
- 2025-05: US judge freezes $57.6 million in USDC in a class action against Kelsier[^6]
- 2025-06: Argentina's anti-corruption office finds Milei acted in a personal capacity[^3]
- 2025-08-21: US judge unfreezes the $57.6 million[^6]
- 2025-11-18: congressional commission report calls the facts "compatible with an alleged scam"[^4]

## Key wallets
- DefcyKc4yAjRsCLZjdxWuSUzVohXtLna9g22y3pBCm2z: LIBRA creator wallet per Bubblemaps; labelled "Libra Deployer" by Nansen[^2][^6]
- 61yKS9bjxWdqNgAHt439DfoNfwK3uKPAJGWAsFkC5M4C: labelled "Libra: Wallet" by Nansen; held about $44 million in USDC in November 2025, when the linked wallets bought about $61.5 million of SOL[^2][^6]

## Controversies
Bubblemaps linked the LIBRA creator wallet to the team behind [[Melania Meme]] through a shared funding address.[^2] A New York class action, *Hurlock v. Kelsier Ventures*, alleges Meteora co-founder Benjamin Chow, Kelsier and the Davis family ran a scheme across at least 15 tokens including LIBRA; Chow denied receiving LIBRA tokens and resigned from Meteora in February 2025.[^7]

In Argentina, a lower-house commission chaired by Maximiliano Ferraro concluded in November 2025 that Milei used his office to spread a possible scam, that he met those involved 16 times, and that about 84% of supply was held by three team accounts; ruling-party members disputed the findings, and the report is not a criminal ruling.[^4] A federal criminal investigation continued.[^3]

## See also
- [[PolitiFi]]
- [[Jeo Boden]]
- [[Doland Tremp]]
- [[Official Trump]]
- [[Celebrity memecoins]]
- [[YZY]]
- [[Broccoli]]
- [[Iggy Azalea]]

## References
1. [Javier Milei-endorsed Libra token crashes after $107M insider rug pull](https://cointelegraph.com/news/milei-libra-token-scandal-107m-rug-pull), Cointelegraph, 2025-02-15
2. [How Hayden Davis Rugged $LIBRA for $100M With President Milei](https://blog.bubblemaps.io/how-hayden-davis-rugged-libra-for-100m-with-president-milei/), Bubblemaps, 2025-03-25
3. [What is LIBRA? The Solana Meme Coin That Sparked a Political Scandal](https://decrypt.co/306987/what-is-libra-the-solana-meme-coin-that-sparked-a-political-scandal), Decrypt, 2025-06-11
4. [$LIBRA scandal: Milei used presidential role to spread 'scam,' commission concludes](https://buenosairesherald.com/politics/libra-crypto-scandal-milei-used-presidential-role-to-spread-alleged-scam-congress-report-concludes), Buenos Aires Herald, 2025-11-19
5. [Milei's Meme Coin Advisor Says He's Sitting on $100M and Doesn't Know What to Do With It](https://decrypt.co/306412/javier-milei-meme-coin-advisor-hayden-davis-100m), Decrypt, 2025-02
6. [Libra Scandal Wallets Buy $61.5M In Solana After Draining Memecoin](https://cointelegraph.com/news/libra-wallets-drain-liquidity-buy-solana), Cointelegraph, 2025-11-18
7. [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
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