Unconfirmed rumors suggest that the team responsible for LIBRA was exploring the launch of another volatile meme coin in collaboration with Nigerian officials. While there is no concrete evidence tying President Bola Tinubu to LIBRA, reports indicate that his team engaged in discussions.
Hayden Davis, the CEO of LIBRA's market maker, announced that he has been inundated with offers to facilitate more rug pulls.
A Plan for a Nigerian Version of the LIBRA Meme Coin
The contentious LIBRA meme coin, backed by Argentinian President Javier Milei, found itself entangled in a significant rug pull controversy. Following a drastic drop in the meme coin's market cap to $4 billion, President Milei distanced himself from the project. Consequently, he is now under scrutiny and facing impeachment threats.
Interestingly, reports reveal that the LIBRA team had been contemplating the launch of another meme coin in collaboration with the Nigerian government.
The crucial link between LIBRA and Nigerian authorities is Hayden Davis, the CEO of Kelsier Ventures and a US citizen, potentially bringing the FBI and DoJ into the investigation of the LIBRA debacle.
In a recent interview, Davis casually confessed to numerous financial offenses that have presented him with fresh opportunities:
"I don't even want to [launch more meme coins], and don't even know how I would. I mean, I've gotten very good at being a launch strategist. Even today, with how much hate there was, there's been 20 people asking 'hey, when do you want to do this one?'" Davis disclosed in a conversation with Coffeezilla.
Discussions with Nigerian authorities apparently occurred before the LIBRA rug pull. However, Davis's statements underscore how one successful deceitful act can pave the way for another within the criminal underworld.
Disruption Caused by Political Meme Coins in the Market
Speculations within the community point to Davis being the mastermind behind the MELANIA meme coin and related scams, a claim he validated during the interview.
By extension, MELANIA may have afforded Davis the influence to engage with Nigerian officials even prior to LIBRA. The report, though, was unable to confirm the involvement of Nigeria's President in this venture.
Nevertheless, "the project was well advanced," with several team members actively participating. Nigeria has recently shown openness to the crypto realm, lending credibility to the reports.
Political meme coins have surged through the crypto sphere, leaving industry experts unsure of how to counteract them. Previously, hackers exploited former heads of state like a Brazilian President and Malaysian Prime Minister to launch fraudulent meme coins.
The ability of figures like Javier Milei to boost LIBRA or Bola Tinubu to elevate a genuine Nigerian meme coin could usher in a new era.
"Crypto is ruthless. True builders don't just compete for profit, clients, and exposure—they fight against meme narratives and now political coins draining liquidity. TRUMP, LIBRA, and every fleeting hype cycle add pressure, but real builders rise and let their work speak," stated Edwin Mata.
Ideally, the collapse of the LIBRA meme coin has caused the Nigerian government to rethink its involvement in this prospective collaboration. Audacious crypto scams are currently enjoying prominence, posing a severe threat to the industry's reputation.
If novice participants equate the entire crypto landscape with fraudsters and rug pulls, the process of rebuilding trust could be prolonged.