Argentine Prosecutor Seeks Interpol Red Notice for LIBRA Memecoin Advisor

An Argentine prosecutor has requested a judge to issue an Interpol “Red Notice” for Hayden Davis, an American citizen allegedly involved in the launch of the controversial LIBRA memecoin. This move comes as part of a broader investigation into the dramatic political scandal that has ensnared Argentine President Javier Milei. The request, made by prosecutor Gregorio Dalbón, accuses Davis of being a key figure behind the LIBRA memecoin, which gained significant attention after President Milei endorsed it on Valentine’s Day.

The LIBRA memecoin's market capitalization soared to over $4.5 billion following Milei’s endorsement. However, its value quickly collapsed, plummeting by more than 99% to approximately $18 million. Blockchain analysts later revealed that certain insiders sold large amounts of the token shortly after Milei publicly supported it. This revelation has raised serious concerns about the integrity and transparency of the cryptocurrency market in Argentina.

In his request for the Red Notice, Dalbón expressed concerns that Davis might evade justice, citing his financial resources that could facilitate his flight or concealment. “The possibility that Davis will abandon his country of residence or hide to avoid answering for his alleged acts appears to be aggravated by the economic resources he possesses,” Dalbón stated, emphasizing the urgency of the situation. Interpol, the International Criminal Police Organization, facilitates international cooperation among law enforcement agencies in its 196 member countries, including the US and Argentina. A Red Notice serves as a request for member countries to locate and provisionally arrest individuals pending extradition.

Davis has not publicly responded to the allegations, nor have his family members, including his brother Gideon and father Charles, who are involved in their family crypto venture, Kelsier Ventures. The controversy surrounding LIBRA is further complicated by its connection to Donald Trump, who recently launched his own memecoin named TRUMP. Trump’s endorsement of cryptocurrency has been characterized as part of his broader strategy to position himself as a pro-crypto advocate.

Following Milei’s endorsement, Davis openly acknowledged his role as an advisor to the Argentine president, stating, “I am indeed Javier Milei’s advisor.” He also claimed responsibility for the launch of a separate memecoin associated with Melania Trump. The fallout from the LIBRA launch has prompted legal inquiries, including a federal investigation into Milei’s actions. Both Milei and Davis have denied any wrongdoing, but the political implications of this incident are significant, as it raises questions about the accountability and regulation of cryptocurrencies in Argentina.

This scandal highlights the complex interplay between politics and cryptocurrency, as well as the potential risks associated with high-profile endorsements. The dramatic rise and fall of LIBRA’s value underscore the volatility and unpredictability of the memecoin market. The ongoing investigation into Milei’s actions and the potential legal consequences for Davis serve as a reminder of the need for greater transparency and regulation in the cryptocurrency industry. As the situation continues to unfold, it remains to be seen how these developments will impact the broader cryptocurrency landscape and the political climate in Argentina.