In the vast and often murky waters of the web3 world, KIP Protocol, a firm linked to the scandalous token, has taken a step back, declaring its innocence and disassociation from the token launch. 🙏
The saga of a token endorsed by the fiery Argentinian President Javier Milei, which has plummeted by a staggering 95%, continues to unfold. A web3 firm, fingered by a key player, claims it was merely a “convenient party to provide cover for others who initiated and managed the token launch.” 😂
STATEMENT FROM KIP ON $LIBRA LAUNCH
24 February 2025We recognize the harm that the $LIBRA situation has caused many investors, our customers, and to the wider crypto community. Like many, we have been shocked by the recent events and want to clarify facts regarding KIP…
— KIP Protocol (@KIPprotocol) February 24, 2025
KIP Protocol, the firm in question, vehemently denied any involvement in the launch of Project Viva La Libertad (and its affiliated Libra token). In a statement on X on February 24, KIP explained that it was approached mid-February to assist with financing for Argentinian small and medium enterprises, but had no part in the token’s creation or promotion. 🤚
“The launch was initiated and managed by Hayden Davis / Kelsier by his own admission, with no involvement from KIP,” the firm stated, adding that it was unaware of the token’s sale date and did not receive any tokens or payments. 💸
KIP also revealed that it was asked to post about the project on X after the token had already launched. At the time, Milei’s original endorsement was still live, leading to its “continued confidence in the project’s larger objectives.” 🤔
The firm emphasized that it has no prior or ongoing relationship with Milei, aside from a brief meeting in October 2024. It also stated that none of the wallets involved in the Libra launch belong to KIP, and reiterated that it “did not receive any tokens or payments” from the token launch. 🙅♂️
Shortly after Libra’s value crashed by 95%, YouTuber Stephen Findeisen, known as Coffeezilla, interviewed Hayden Davis, a key figure behind Libra. Davis, in turn, alleged that Tech Forum Argentina’s Mauricio Novelli, Manuel Godoy, and KIP Protocol were central to the project. 📢
While Coffeezilla identified Davis as one of Libra’s “big four” creators, Davis claimed he was only a “facilitator” and not the deployer or team member. However, he later admitted to holding $100 million tied to the project, calling it “leverage with certain groups and parties.” 🤑
Addressing Libra’s (LIBRA) collapse and the meme coin market in general, Davis suggested that retail investors should “study their fucking ass off,” describing the meme coin market as an “unregulated casino.” 🎰
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2025-02-24 13:31