- Text messages reveal Kelsier Ventures CEO claimed influence over Argentine president through payments to his sister.
- Solana-based Libra token crashed 95% after President Milei’s deleted promotional tweet, resulting in massive investor losses.
- Kelsier Ventures and associated wallets profited approximately $100 million during token’s brief price surge.
- Argentine presidential office launches anti-corruption investigation into the incident dubbed “cryptogate.”
- Opposition leaders threaten impeachment proceedings over the controversial token promotion.
A cryptocurrency venture capitalist’s alleged influence-peddling scheme has triggered a political crisis in Argentina, after text messages emerged showing claims of monetary payments to President Javier Milei’s inner circle before a controversial token launch that cost investors millions.
Hayden Davis, CEO of Kelsier Ventures, allegedly boasted in December messages about his ability to manipulate presidential decisions through payments to Karina Milei, the president’s sister and key government figure. In the messages, Davis claimed, “I send $$ to his sister and he signs whatever I say and does what I want.”
The scandal centers around the Libra token, a Solana-based cryptocurrency that experienced a meteoric rise and catastrophic fall in February 2024. After President Milei promoted the token on social media as a solution for small business funding, its value skyrocketed to $5 before plummeting by 95%, with wallets linked to Davis and Kelsier Ventures allegedly securing over $100 million in profits.
The incident has sparked what local media terms “cryptogate,” prompting an official anti-corruption investigation by the presidential office. Market analysts note that the scandal has negatively impacted Argentina’s stock market, forcing Milei’s administration into crisis management mode.
The controversy highlights the growing intersection between cryptocurrency ventures and political influence in emerging markets. Similar incidents of politically-connected token promotions have occurred in other jurisdictions, though rarely with such direct allegations of financial incentives to government officials.
Neither Karina Milei’s office nor Davis has responded to multiple requests for comment regarding the allegations. The investigation continues as opposition leaders consider impeachment proceedings, marking one of the most significant cryptocurrency-related political scandals in Latin American history.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
Previous Articles:
- Tether Co-Founder Announces New Yield-Bearing Stablecoin Competitor
- Elon Musk Spreads False Claims About Fort Knox Gold Being Missing Since 1974
- Norwegian Authorities Charge Four Men in $86.5M Crypto Investment Scam
- FTX Begins Paying Small Creditors with 9% Interest Since 2022 Collapse
- SEC’s Crypto Task Force May Derail Lawsuit Against Coinbase
