LIBRA Co-Creator Hayden Davis Accused of Cashing Out Millions in Alleged Stolen Funds

In an interesting discovery, Hayden Davis, the co-creator of the controversial LIBRA memecoin, has reportedly cashed out over $1.6 million in what some are calling illicit gains. Crypto and blockchain analyst known as “Dethective” has brought these claims to light, alleging that Davis exploited funds tied to LIBRA and other questionable ventures. The accusations come with detailed transaction records, sparking fresh scrutiny into Davis’s financial maneuvers and his past advisory role with Argentina’s leadership.

According to Dethective’s findings, transactions dated March 6, 2025, reveal wallets linked to Davis unstaking $900,000 from Kamino Finance, a decentralized finance platform, before converting the sum into USDC, a stablecoin pegged to the U.S. dollar. Just days later, on March 11, an additional $741,000 was converted, with the analyst tracing these funds back to LIBRA and what they describe as “other scams.”

Dethective has vowed to continue exposing such activities, stating a firm belief that those involved should face consequences for their actions. He further alleges that Davis is leveraging $1.4 million—sourced from LIBRA, the MELANIA memecoin tied to Melania Trump, and other unnamed projects—to “farm Kamino points,” a practice that could amplify his profits within the DeFi ecosystem.

Davis, who once served as a cryptocurrency advisor to Argentina’s President Javier Milei, is no stranger to controversy. Through his firm Kelsier Ventures, he reportedly is the mastermind behind LIBRA, earning over $100 million launching and then dumping LIBRA on retail customers. Milei’s public endorsement of LIBRA, combined with whispers of insider trading, fueled the currency’s volatile journey, triggering widespread financial fallout. The debacle has since led to corruption probes and even demands for Milei’s impeachment as the public seeks accountability.

Fallout and Investigations Intensify

The ripple effects of Davis’s alleged actions extend beyond his personal gains. An advisor to Argentina’s National Securities Commission, Sergio Morales, who also appeared in a draft contract as a Web3 consultant alongside Davis, stepped down on March 7 amid mounting pressure. The Buenos Aires Herald reported that Morales cited “reasons of public knowledge” for his resignation, a move that followed a raid on his home ordered by prosecutors investigating his involvement with LIBRA. His exit underscores the growing legal and ethical questions surrounding the currency and its key players.

Dethective’s research paints a troubling picture of Davis’s financial activities, suggesting a pattern of exploitation tied to LIBRA’s tumultuous history. The token, once touted as a revolutionary asset, became a cautionary tale when its value collapsed within hours of peaking, a crash that critics attribute to coordinated insider moves. For investors, the losses were devastating, with millions of dollars vanishing as faith in the project evaporated. The analyst’s ongoing efforts to track and publicize Davis’s transactions signal a broader push for transparency in a space often criticized for its opacity.

As of now, Davis has not publicly responded to these latest allegations, leaving the crypto community and regulators to grapple with the implications. With investigations deepening and public outrage simmering, the saga of LIBRA and its co-creator continues to unfold, raising critical questions about trust, oversight, and accountability in crypto.