Did you see that LIBRA launched every week in the past with backing from Argentinian President Javier Milei? He initially made a number of posts supporting it however later deleted them, withdrawing his endorsement.
It turns on the market’s an excellent clarification. A bunch of so-called grifters, largely based mostly in Los Angeles, USA, referred to as Vape Cabal on “Crypto X,” used the launch to control the market and efficiently extracted hundreds of thousands.
Expensive god Javier Milei’s $LIBRA drained over $280 MILLION USD from almost 75,000 particular person merchants. Simply have a look at these numbers: from 1000s to 10s of 1000s to MILLIONS of {dollars}… rug-pulled in hours. Scam of the century in Argentina. pic.twitter.com/KGELU8wgXT
— David Adler (@davidrkadler) February 17, 2025
Kelsier Ventures, Aka Hayden Davis Behind The LIBRA Scam?
Shortly after Libra launched, it hit a $4.6 billion market cap as Javier Milei confirmed help. Speculators hoped it will mimic Trump token’s preliminary success, however the worth crashed 97% inside hours, dropping to a $150 million market cap. Investors misplaced every thing as insiders executed a rip-off, hoarding provide and dumping on consumers.
An X account known as Kelsier Ventures , run by Hayden Davis shared a proof of the Libra state of affairs, nevertheless it wasn’t totally true. Leaked messages later confirmed him saying, “Yeah, we’re trying to max extract on this one, lads,” suggesting they deliberate to take as a lot cash from retail buyers as potential.
“Yeah fellas tbh we are trying to max extract on this one.”
– Hayden Davis pic.twitter.com/e3jL1ZUpvg
— Beanie (@beaniemaxi) February 18, 2025
Davis additionally went on a number of podcasts with no lawyer, making statements that solely made him look worse. In quick, he and his group, the LA-based “Vape Cabal,” have been scamming individuals in crypto, making a whole lot of hundreds of thousands, if not billions.
In Libra’s case alone, they made $107 million—no less than from what’s been uncovered.
Jail Time Incoming for Hayden Davis?
As Hayden Davis continues to incriminate himself on podcasts, extra particulars about his crypto schemes are coming to gentle. It was revealed that he charged 1% of any undertaking’s tokens he helped launch and admitted to sniping each launch he labored on. This implies his actual reduce was seemingly 3-10%, rising his income.
In addition, he confirmed his involvement within the Melania and Trump tokens, even sharing contract particulars earlier than launch with pals. With simply these three tasks, he and his group could have made billions—all whereas exhibiting zero regret for extracting wealth from retail buyers.
However Davis didn’t simply expose himself—he additionally threw Donald Trump underneath the bus. He claimed that, throughout a personal dinner at Trump’s property, insiders might purchase Trump tokens at a $500 million market cap earlier than launch. Because the token hit a $75 billion market cap, that’s a 150x return for these early consumers.
So, the large query: Will Hayden Davis face jail time, or has crypto crime change into authorized now?
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