Amid the ongoing controversy surrounding the dramatic 95% crash of the Libra token, KIP Protocol has publicly distanced itself from the project, refuting claims that it played any role in the token's launch or management.
KIP Protocol's Statement
In a statement released on February 24 via X, KIP Protocol emphasized that it was not involved in creating, promoting, or selling the Libra token or the Viva La Libertad project. The firm mentioned it was invited in mid-February to explore financing opportunities for Argentinian SMEs but had no prior connections to the token. KIP Protocol also stated that it received no payments and did not control any wallets related to the token’s launch.
Interview with Hayden Davis
The scandal intensified after YouTuber Stephen Findeisen, known as Coffeezilla, interviewed Hayden Davis (also called Kelsier), a key figure behind the Libra project. Initially, Davis referred to himself as a 'facilitator,’ but later revealed that he controlled $100 million associated with the project, claiming it was used for 'leverage with certain groups and parties.' During the interview, Davis described the meme coin market as an 'unregulated casino' and advised retail investors to thoroughly educate themselves before participating.
Consequences for Libra Token
The Libra token, initially promoted by President Javier Milei, has faced intense scrutiny following its collapse. As accusations continue to emerge, uncertainty remains over who was truly responsible for its development and whether further legal or financial consequences will follow for those involved.
KIP Protocol rejects claims about its involvement in the token launch, stating it was used as a cover for others who managed the initiative. While KIP acknowledges posting about the project on X after the token's launch, it clarified that it has no formal relationship with President Javier Milei, except for a brief meeting in October 2024.
