Hayden Davis Strikes Again, This Time with the $WOLF Memecoin

Hayden Davis, the controversial CEO of Kelsier Ventures, is once again at the center of a crypto scandal.

Hayden Davis, the controversial CEO of Kelsier Ventures, is once again at the center of a crypto scandal. Following his involvement in the LIBRA meme-coin scandal, which shook Argentina’s political landscape, Davis has surfaced with another questionable project—$WOLF. Let’s take a look at the newest crypto scandal and what the story is behind this infamous CEO.

Hayden Davis comes back with a new meme coin—$WOLF

Davis, known for his role in the Helio Network and the TIP (Trump Innovation Points) meme-coin, is being investigated for his alleged role in the collapse of the WOLF meme coin.

The token, which stands for Wolf of Wall St and was named after legendary stockbroker Jordan Belfort, was initially promoted by the X account @wallstreetbets. The development team of the token is said to have used multiple wallets to “snipe” the token—buying large amounts early to manipulate prices.

WOLF soared to a peak of $40 million in market cap before plummeting by 99%, now trading at just $508,000. According to data from crypto analytics firm, 82% of the token supply was controlled by a network of linked wallets.

Investigators linked WOLF’s origins to a wallet that Davis used to deploy both LIBRA and a memecoin associated with former First Lady Melania Trump.

Davis’s legal woes in Argentina stem from his alleged role in the LIBRA scam. The token, launched on Solana, was promoted as an official Argentine cryptocurrency and linked to President Javier Milei’s libertarian agenda.

LIBRA gained attention quickly, reaching a $4.4 billion market cap. However, the token’s value crashed rapidly, wiping out investor funds and sparking allegations of a massive scam.

Also Read: Argentine President Faces Impeachment Over Involvement in Crypto Scam

Concurrently, a meme-coin named after former First Lady Melania Trump also went live on Solana, but it was quickly delisted by major exchanges due to suspicious activity. Both tokens were reportedly deployed from the same PayPayl wallet, which is said to be used by Davis for his various projects.

An Argentine prosecutor has requested a judge to issue an Interpol Red Notice for Davis, alerting Interpol member states that Argentina has issued a legal arrest warrant for him.

The request comes after a year of investigation into the LIBRA scam, which began with an initiative by Together for the Change deputies to remove President Milei from office over his involvement in the crypto scam.

The deputies requested that the lower house of the Argentine Congress open impeachment proceedings against Milei, urging him to step down from his post.

The LIBRA scam, which defrauded numerous Argentines, involved the creation of a token named after President Milei and the integration of his image and political agenda into the project. The scam also included the use of bots to manipulate the token’s price and generate artificial trading volume.

Despite the involvement of his name, image, and political agenda, Milei’s office has denied any official connection to the token, asserting that Davis has no ties to the government.

This contradiction fueled accusations of fraud and market manipulation, with opposition parties demanding Milei’s impeachment and the president himself facing serious threats.

The scandal has also damaged Milei’s credibility and ability to lead the country out of its economic crisis.

The saga of the LIBRA meme-coin is a cautionary tale of the volatility of meme-coins, the potential for political exploitation in the crypto space, and the need for greater regulation of the industry.

It also highlights the lengths to which some will go to defraud others for personal gain, and the devastating impact that such actions can have on the victims.

Meanwhile, the criminal fraud charges against Milei and the Interpol notice requested for Davis are both pending. The outcome of these legal proceedings will determine the fate of both men and the role that crypto will play in the future of Argentina’s political and economic landscape.