Fresh Allegations Link Hayden Davis to $21 Million MELANIA Memecoin Scandal

A recent investigation by YouTuber Coffeezilla has brought new scrutiny to the world of celebrity-backed memecoins, revealing potential insider trading in the launch of the MELANIA token associated with First Lady Melania Trump. The probe suggests that Hayden Davis, a figure already tied to the controversial LIBRA memecoin promoted by Argentinian President Javier Milei, played a central role in both projects. While no direct involvement from Melania Trump or Milei has been proven, the findings highlight how early access to information allowed certain parties to secure massive profits at the expense of everyday investors.

Coffeezilla's investigation details how 24 anonymous wallets purchased large amounts of MELANIA tokens just before the public announcement, leading to an estimated $100 million in gains across these accounts. Two of these wallets trace back to Davis and his company, Kelsier, with one buying $800,000 worth of tokens 49 seconds prior to the reveal and netting $18.5 million. The other spent $40,000 about two minutes earlier, yielding $2.5 million in returns.

These actions appear to contradict public statements on the MELANIA website, which claimed team tokens would remain locked for 30 days to ensure fairness. Yet the linked wallets began selling shortly after the launch and fully exited within that period. Blockchain data and leaked messages further connect Davis to pre-announcement transfers from official team wallets, underscoring a pattern of privileged dealings.

Davis himself acknowledged working with the MELANIA team during a previous interview with Coffeezilla, stating that sniping the token was part of the strategy due to high anticipation. He downplayed the profits, insisting his group did not lead the largest buys, though evidence indicates otherwise. Profits from these trades flowed into a wallet Davis described as holding his personal funds, raising questions about the separation between team operations and individual gains.

Evidence Points to Broader Connections in LIBRA Controversy

The MELANIA memecoin scandal echoes similarly to the earlier LIBRA scandal, where Davis also served as a key facilitator. President Milei shared a post endorsing LIBRA in February 2025, causing its value to surge before a sharp decline that wiped out billions in market value. Investors lost an estimated $250 million, prompting federal investigations in Argentina and calls for accountability from Milei's administration.

Leaked communications show Davis boasting about payments to Milei's sister to secure influence, though these claims remain unverified. His involvement in both tokens suggests a recurring approach of leveraging high-profile endorsements for quick liquidity events. On-chain analysis from firms like Bubblemaps confirms overlapping wallet activities between LIBRA and MELANIA tokens, with Davis's team holding significant portions of supply early on. In the LIBRA incident, 34 accounts reportedly made $124.6 million while most traders faced heavy losses. Similar patterns emerged in MELANIA, where public buyers entered a market already tilted by insider positions.

Davis has faced no formal charges yet, but the mounting evidence has drawn attention from U.S. regulators as well, given the international scope of these trades. His company, Kelsier, positioned itself as a launch strategist for such projects, yet the outcomes have left many questioning the ethics of memecoin promotions. In late June, Davis testified in federal court in New York as part of a class action lawsuit denying any claims of fraud, insider trading, or any intentional misconduct.

Authorities in Argentina disbanded a unit probing the LIBRA matter shortly after a judge ordered bank records unsealed, adding layers to the political intrigue. Davis's admissions in interviews, including one with Coffeezilla, provide direct insights into the planning behind these launches. While he maintains the teams aimed for success, the rapid profits and crashes tell a different story for those affected.