Controversial Creator of LIBRA Memecoin Reveals MELANIA’s Launch and Sniping Actions
Hayden Davis explains his involvement with MELANIA and LIBRA memecoins and discusses recent refunds amid controversies.
Key Points:
- Hayden Davis claims to be behind both MELANIA and LIBRA memecoins.
- Davis refunded $5 million to Barstool Sports’ Dave Portnoy after losses incurred on LIBRA.
- In an interview, Davis stated that only outsiders express anger over the situation.
Kelsier CEO Hayden Davis, the mind behind the controversial LIBRA memecoin, revealed that he also initiated the MELANIA memecoin, stating that his team executed sniping operations as soon as the contract addresses were activated.
LIBRA, launched last Friday, gained attention after a supportive tweet from Argentina’s President Javier Milei claimed it would aid small and medium-sized enterprises in the country. However, Milei’s subsequent retraction regarding the project caused a staggering 95% decrease in the token’s worth.
Understanding Sniping
Sniping refers to tactics where individuals utilize bots to purchase memecoins shortly after a smart contract’s launch, typically leading to those wallets reaping the majority of benefits.
The LIBRA memecoin was declared to be “not a rug pull” by Davis in an interview. He noted that it was merely a venture that had gone awry, with $100 million now under his control.
Profit from MELANIA Liquidity
Davis revealed his previous ties to the MELANIA memecoin, which is associated with U.S. First Lady Melania Trump. He expressed, “I am glad to share the truth… I believe the team intended to snipe it, considering how significant the snipe was on Trump’s memecoin.” Despite this, he insisted they did not benefit from the MELANIA launch, stating emphatically that the team did not withdraw any liquidity.
However, when later confronted with on-chain data, he provided a contradictory statement regarding money sales versus swapping liquidity.
Currently, the MELANIA token is trading at a market cap of $625 million, having debuted at $2.1 billion on January 20.
Refunds for Insiders
The LIBRA project’s drama continued as Davis refunded $5 million to founder Dave Portnoy. Portnoy disclosed that he had prior knowledge of the project weeks before its official launch and confirmed his token acquisition just minutes after Milei’s announcement. The refund and his foreknowledge have sparked allegations of insider trading, but Davis rejected this notion vehemently.
“In every memecoin context, it’s always the cognizant participants who benefit,” Davis articulated, countering allegations of unfair advantages. “Those are mere crypto folks upset about perceived inequities.”
CoinDesk sought comments from both Davis and Portnoy but did not receive responses by the time of publication.
