- LIBRA creator Hayden Davis has allegedly cashed out over $1.6 million in funds connected to trading activities involving LIBRA and other cryptocurrencies.
- Crypto analyst “dethective” has tracked transactions showing Davis converting large sums to USDC and farming Kamino points with funds from multiple sources.
- The LIBRA situation has led to corruption investigations in Argentina, with one government advisor already resigning amid the scandal.
Crypto analyst “dethective” has revealed that Hayden Davis, the creator of LIBRA cryptocurrency, has allegedly converted over $1.6 million from trading activities into stable assets. According to transaction records shared by the analyst, Davis has moved these funds—reportedly connected to LIBRA and other projects—into USDC over multiple transactions in March.
On March 6, blockchain data revealed by dethective showed wallets unstaking approximately $900,000 from Kamino Finance before converting it to USDC. A subsequent transaction tracked yesterday added another $741,000 to this total, with dethective claiming these funds originated from LIBRA and what the analyst described as other “scams.”
“I’ll keep posting because there’s no way they get away with zero consequences,” dethective stated in a social media post documenting the activity.
The analyst has further alleged that Davis is currently “farming kamino points” using approximately $1.4 million derived from multiple cryptocurrency projects, including LIBRA, Melania Trump’s MELANIA memecoin, and others.
Davis, who has reportedly made over $100 million trading LIBRA through his firm Kelsier Ventures, previously served as a cryptocurrency advisor to Argentina’s president Javier Milei. President Milei’s promotion of LIBRA and alleged insider trading led to significant losses for thousands of investors when the token experienced extreme price volatility within hours.
The fallout from the LIBRA situation has triggered corruption investigations and even impeachment discussions in Argentina. Last Friday, Sergio Morales, an advisor for Argentina’s National Securities Commission who appeared alongside Davis in a draft contract as a Web3 advisor to Milei, resigned from his position.
According to the Buenos Aires Herald, Morales departed “for reasons of public knowledge” after investigators raided his home following orders from prosecutors connected to the LIBRA investigation.
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