Reports reveal that a crypto figure faces charge as Hayden Davis, a prominent figure behind the LIBRA cryptocurrency token, is accused of bragging about influencing Argentine President Javier Milei. Davis allegedly made payments to Milei’s sister, Karina Milei, in an effort to sway the president’s decisions. Leaked communications suggest Davis believed these payments would allow him to manipulate Milei’s actions, sparking renewed controversy around the token.
According to screenshots, Davis allegedly said that paying money to Karina enabled him to control the actions of the president, including LIBRA token promotion. Davis has denied making any payments, though, and says he remembers nothing of the texts.
General Secretary for the Argentine presidency, Karina Milei has not yet addressed the claims. Concurrent with Milei’s public address, the LIBRA token—which quickly rose to a $4.5 billion market cap—suffered a stunning collapse of almost 95%, sparking claims of insider manipulation.
With some estimations of earnings of about $100 million, Davis and his company, Kelsier Ventures, apparently benefited greatly from the debut of the coin. Davis has said he does not possess LIBRA tokens and has not been involved in sales notwithstanding these increases.
President Milei has said he only exchanged information about LIBRA, so denying direct participation in its promotion. Still, the aftermath has resulted in more scrutiny as opposition leaders advocate more research. Milei responded to the debate by underlining that the state should not be liable for private investment hazards and that stronger control in such transactions is necessary.
Issues regarding the degree of any financial transactions and whether regulatory authorities will step in remain unresolved as the crisis develops. The episode emphasizes the volatility of the bitcoin market and the dangers connected to well-known sponsorships.
