The scandal surrounding the LIBRA memecoin linked to Argentine President Javier Milei shows no signs of cooling down.
The LIBRA team also wants to expand the project to other countries. Image: DL News
The LIBRA memecoin fraud case, which was promoted by Argentine President Javier Milei, has generated additional intriguing details.
The news that has been captivating the crypto community over the past three days is certainly the "largest political rug pull in history" that has shaken the world, involving the LIBRA memecoin, which was part of the "Viva la Libertard" initiative to help small and medium-sized businesses in Argentina overcome economic difficulties.
According to the latest information, the "hidden forces" behind this notorious project, Kelsier Ventures, also have the intention to replicate LIBRA into similar projects in other countries such as Nigeria.
🔴 Memecoin Libra: Global Scandal Unfolds?
— Raphaël Bloch 🐳 (@Raph_Bloch) February 17, 2025
According to @TheBigWhale_, the team behind $Libra had a parallel memecoin project in Nigeria.
They had established contact with the Nigerian presidential team.
"The project was in advanced stages" https://t.co/ibs7N3K6MV
Kelsier Ventures is the key player in this case. As of last night, evidence has been found exposing the "true face" of this market maker, which is the organization behind the $200 million fraud scheme through various memecoin projects on Solana, not just LIBRA.
In a recent interview, Hayden Davis, CEO of Kelsier Ventures, revealed that his company was the market maker for the Melania Trump (MELANIA) memecoin project, the First Lady of the United States. He also boldly stated that memecoins are inherently risky investments, a zero-sum game, and do not actually create value, but only generate profits from latecomers.
Returning to the main topic, a source from The Big Whale reported that Kelsier Ventures is preparing to launch a memecoin on the Solana blockchain in collaboration with members of the Nigerian government.
Although there is no evidence that the President of Nigeria, Bola Tinubu, is directly involved, many members of his cabinet have been involved in discussions related to the project. It is known that the project in Nigeria has progressed quite far and may soon be launched if it does not face legal obstacles.
The negotiations with the Nigerian government once again raise concerns about the legality and ethics of such projects, as they may have an impact on the economies of the participating countries.
In addition to Argentina and Nigeria, Kelsier Ventures is also said to be approaching other countries with the same goal of issuing memecoins.
As this scandal continues to escalate, US law firms like Bruwick Law have announced that they will file a class-action lawsuit against President Javier Milei for his role in the fraud. Meanwhile, the opposition in Argentina is considering impeaching Milei, accusing him and his team of being accomplices in a fraud worth hundreds of millions of dollars.
In a local television interview, the President of Argentina has completely absolved himself of responsibility, arguing that only 4-5 domestic citizens were affected, mostly Americans and Chinese.
However, the President has taken a puzzling action by sharing a post again last night instructing how to buy LIBRA, causing the token price to nearly double before returning to its previous level.
Compiled by Coin68
