A well-known memecoin creator, Hayden Davis, has been under scrutiny for his involvement in controversial projects and continues to sell off his coins despite a significant 95% drop in value.
Recent data from Bubblemaps, a blockchain tracking firm, has revealed the on-chain activities of Davis, who had a hand in the creation of Libra (LIBRA) and Melania Meme (MELANIA) coins. Both projects have faced challenges, with MELANIA experiencing a massive decline of 95.3% since its launch in January.
Bubblemaps reports, “Hayden Davis is STILL selling MELANIA. He recently transferred $1 million to exchanges and withdrew over $2 million from liquidity pools. After a period of inactivity, his MELANIA wallets are now active again. In the last 14 days, he has sent $1,065,153 worth of MELANIA to exchanges and extracted $2,050,666 from liquidity pools. Some wallets are yet to sell. This sudden activity may indicate an attempt to move funds discreetly amidst reduced scrutiny. We will continue to monitor for further developments.”
As of now, MELANIA is trading at $0.615 per coin. Meanwhile, Argentinian authorities are seeking Davis’s arrest through Interpol for his involvement in LIBRA.
Prosecutor Gregorio Dalbón states, “I’m requesting the immediate arrest of Hayden Mark Davis, a US citizen, for his role in launching the cryptocurrency LIBRA. Davis’s potential flight or evasion could be facilitated by his financial resources, posing a challenge to our investigation.”
Argentinian President Javier Milei quickly distanced himself from LIBRA, stating that he was misled into supporting the project. In his words, “I was unaware of the project details and chose to cease promoting it upon learning more. To those seeking to exploit this situation for personal gain, your actions only confirm the despicable nature of politicians, further fueling our resolve to hold them accountable.”
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Image Credit: DALLE3