Hayden Davis, co-founder of the LIBRA project, has reportedly earned around $12 million from trading the YZY token associated with rapper Kanye West, according to an analysis conducted by blockchain analytics firm Bubblemaps.
Who Is Hayden Davis and What’s His Crypto Track Record?
Davis is best known for his role in the LIBRA project, which was previously linked to Argentine President Javier Milei. The project drew headlines after allegations of mismanagement and connections to more than 20 hacks involving crypto theft in August 2023.
Davis has also been connected to other celebrity-linked tokens, including MELANIA and WOLF.
Insider Activity?
According to Bubblemaps, multiple wallets received significant sums from centralized crypto exchanges just one day before the YZY token launch. After tracing the transfers, analysts discovered a cluster of wallets that appear to be connected to Davis through over-the-counter deals, shared deposits, and token sales.
Although Bubblemaps cannot definitively say Davis was an insider, they reported that his wallet began buying YZY tokens just one minute after the official launch.
Controversial Tokens and Stories
Some community members even speculate that Davis was directly behind the creation of the token. While Bubblemaps says it can’t confirm that, it notes that the investigation is ongoing.
The situation surrounding YZY and Hayden Davis's activities raises numerous questions about transparency and ethics in the crypto space, and this investigation is likely to continue.
