LIBRA Founder Shocked: 'Internal Trading Is the Essence of Meme Coin'

Hayden Davis, the founder of memecoin Libra (LIBRA) has now collapsed, rejecting criticisms of insider trading in memecoin, arguing that investors only complain when they miss out on fat deals. Speaking in an interview with YouTube investigator Stephen Findeisen, also known as "Coffeezilla", Davis defended the controversial activities surrounding the rapid rise and fall of the Libra token. Davis emphasizes that early access and insider trading are the essence of memecoin culture, claiming that resentment often comes from those excluded from these transactions. "All the complaints on social media come from those who didn't join early. You will never hear them complain if they are part of it," he declared. When asked about ethical concerns regarding the advantage of people in power, Davis posed the question of whether there are any alternative solutions, implying that profiting from memecoins is inherently tied to one's position of power. Libra Token has witnessed a dramatic increase in popularity after receiving validation from Argentine President Javier Milei. Its market capitalization surged to over $4 billion before collapsing, with blockchain data revealing that at least eight wallets associated with the project withdrew a significant amount of money before the collapse. The consequences have led to political surveillance in Argentina, as lawmakers call for Milei's impeachment for allegations of indirect involvement in the scandal. Political memecoin is being closely monitored The rise of political memecoins has become an increasingly growing concern in the cryptocurrency industry, especially after the success of the Official Trump (TRUMP) and Melania Meme (MELANIA) tokens of US President Donald Trump. Other political figures, including the President of the Republic of Central Africa, have also entered the memecoin space, often leading to rapid price increases followed by sharp declines. The blockchain analysis company Bubblemaps recently identified a connection between wallets related to both MELANIA and LIBRA tokens, raising concerns about coordinated insider trading activities. One wallet is believed to have made a profit of 6 million dollars solely from LIBRA. The popularity of memecoin programs has prompted experts in the industry to issue warnings. Samczsun, founder of the SEAL911 security group, warned that memecoin is driving an unsustainable cycle of speculation and manipulation. "Memecoin is a wildfire that is burning down our industry. If we don't want to be left with just ashes, it's time to take action," he warned. The strong reaction of the community to Davis's statement Davis's comment defending sniper shooting - the practice of using bots to gain an early advantage in a token - has sparked strong reactions in the cryptocurrency community. When challenged by Coffeezilla on whether those involved in the project are fair in participating in sniper shooting or not, Davis replied, "So, I'll say no. But sometimes, you need to protect the project." Industry figures have strongly reacted to Davis' statement. Andre Cronje, co-founder of Sonic Labs, criticized his views, stating, "His fundamental premise is that 'crypto only exists to make money'. He has never used any real cryptocurrency project." DYOR! #Write2Earn #Write&Earn $BTC {spot}(BTCUSDT)