Following the controversial crash of the Libra token by 95%, KIP Protocol denies its involvement in the launch, attributing the initiative to other parties, including Hayden Davis.
KIP Protocol's Statement
KIP Protocol issued an official statement distancing itself from the launch of the Libra token, emphasizing that it had no role in the project's creation or promotion. In a statement dated February 24, 2025, the company noted that it was invited in mid-February to assist in financing Argentine small and medium enterprises, but had no involvement in the token's creation or its launch.
Details of Libra's Launch
According to KIP Protocol, they were invited to join the project after the launch of the Libra token. The company claims it was unaware of the token's sale date and did not receive any tokens or payments. At that time, Argentine President Javier Milei's endorsement remained active, boosting confidence in the project's goals.
Reaction and Consequences
Following the 95% crash of the Libra token, YouTuber Stephen Findeisen, known as Coffeezilla, conducted an interview with Hayden Davis, who accuses KIP Protocol of involvement in the project. However, the firm denies holding any wallets related to the Libra launch and claims it did not receive any tokens or payments. Davis admitted holding $100 million tied to the project and described the meme token market as an 'unregulated casino,' suggesting retail investors should study it diligently.
KIP Protocol emphasizes its lack of involvement in the Libra project, expressing regret over the impact on investors. While the responsibility for the launch points to other participants, the event's consequences raise concerns within the crypto community.
