While Argentine President Javier Milei was busy preaching free-market ideals, his crypto buddy was allegedly stuffing digital wallets with millions in bribes. An investigation has revealed that Hayden Mark Davis, CEO of Kelsier Ventures and co-creator of the now-infamous $LIBRA cryptocurrency, reportedly orchestrated secret payments totaling $10 million to members of Milei’s family.
Free-market champion Milei’s crypto associate caught red-handed, funneling millions through digital wallets to president’s family members.
The scheme unraveled faster than you can say “blockchain.” Davis, who met with Milei on January 30, 2025, to discuss blockchain and AI applications, launched $LIBRA on February 15. The cryptocurrency briefly hit a market cap of $4.6 billion before nosediving 90% in what investigators suspect was a classic “rug pull” scam. The Observatory for the Right to the City alleges Milei is part of a criminal organization that orchestrated the scheme. So much for economic growth initiatives.
President Milei’s social media endorsement of $LIBRA mysteriously vanished hours after posting. Now he’s claiming ignorance about the project details. Funny how that works. Meanwhile, blockchain analysis has traced a complex web of transactions through multiple wallets, apparently designed to hide the money trail. Milei’s defense rests on his claim that he merely shared, not promoted the cryptocurrency. The incident demonstrates how market sentiment can be manipulated through celebrity endorsements.
The fallout has been brutal. Over 40,000 investors lost approximately $250 million, sending the Buenos Aires Stock Exchange tumbling 5.58%. Former President Cristina Kirchner didn’t miss the opportunity to brand Milei a “crypto-scammer,” while opposition parties are pushing for impeachment proceedings.
Federal prosecutors aren’t playing around. They’re investigating potential charges including fraud, criminal association, and breach of duties. The Anti-Corruption Office has jumped in, and civil lawsuits from angry investors are likely on the horizon.
Davis’s ‘vivalalibertadproject.com’ website now serves as a digital ghost town, much like the empty promises of $LIBRA’s economic revolution. The PRO party has labeled the case “very serious,” and a special parliamentary commission is in the works.
As Milei’s credibility crumbles faster than a failing blockchain, one thing’s become crystal clear: in the world of crypto and politics, freedom doesn’t always ring true.
