The post LIBRA token key figure Hayden Davis denies rug pull allegations, blames ‘plan gone wrong’ appeared on BitcoinEthereumNews.com.

Key Takeaways Hayden Davis claims the Libra token crash was due to a failed strategy, not fraud. Davis is the custodian of $100 million from the Libra project. Hayden Davis, who facilitated the launch of LIBRA, addressed allegations surrounding the token crash, insisting that it resulted from a failed strategy rather than a deliberate scheme to defraud investors. “People are saying this is a rug pull,” said Davis in a Sunday interview with YouTuber and crypto sleuth Coffeezilla. “That’s not objectively true. There’s still like…60 million on the bonding curve of liquidity that’s locked.” “It’s not a rug…it’s a plan gone miserably wrong with a $100 million sitting in account that I’m the custodian of,” Davis added. “I would love instructions on what to do with it. I don’t want, I have no desire to be public enemy number one.” LIBRA token team sniped at launch Davis admitted that the project’s team engaged in sniping during the LIBRA token launch to control market manipulation by other potential snipers. The plan, as detailed by Davis, was to accumulate enough liquidity to control snipers. “…so when the chart dips down it’s not going to crush the whole project, have Milei do the second round of videos and then inject all the capital back in, or at least the vast majority, and create like a mega like a mega Trump launch basically,” he explained, adding that complications arose when key marketing support was withdrawn. Addressing President Milei’s withdrawal of support for the LIBRA token, Davis suggested that Milei had faced intense political pressure that might have caused him to panic and ultimately retract his endorsement. “As somebody in his position, I would feel rightly,” Davis said. He’s not like a crypto-native person.” He also clarified that while Milei supported the project, it wasn’t…

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Filed under: News - @ February 17, 2025 3:19 pm