American CEO paid president Milei’s sister and is now at the heart of Argentina’s crypto scandal

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Last Updated on 1 March 2025 by CryptoTips.eu

A new memecoin scandal and once again Dave Portnoy is playing a role in it, although he’s not accused of being the culprit this time. That role is for Hayden Davis, an American influencer and cult figure who appears to have been involved in various shady dealings in the past already. Hayden bragged just before New Year that he could make the sister of Argentine President Javier Milei do whatever he wanted.

On Valentine’s Day this year, Milei promoted the Libra memecoin, which collapsed only a few hours later, taking the money of thousands of investors with it in its fall. Meanwhile, protests are growing in Argentina where angry savers want their money back. The first $100 million earned from Libra belongs to Hayden Davis, who claimed (during an interview with Portnoy) that he doesn’t know what to do with the cash.

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Davis will have to work hard to stay out of the hands of the law. In the past week, the Buenos Aires Times, Bloomberg and the New York Times reported on his exploit. Hayden Davis, through Milei’s sister, appears to have convinced the president of Argentina to launch a memecoin on Valentine’s Day via his social media (on X, formerly Twitter).

About an hour after that tweet, Libra’s market capitalization rose to $4 billion, after which the early investors, aka Hayden Davis and his company, paid themselves and cashed in around $100 million. A little later, Milei came up with a new message in which he deleted the original tweet and stated that he had nothing to do with Libra.

The price of Libra fell rapidly and subsequently lost up to 96% since its peak. Since then, the political opposition has organized protests against Milei and is demanding his resignation.

Hayden Davis admitted last in an interview with Dave Portnoy (who recently became involved in another memecoin scandal and was offered millions to promote Libra himself) that the first $100 million in profits is in his possession. Apparently he doesn’t know what to do with the money now that everyone realizes how his company, for lack of a better word, stole it from Argentinian investors.

This will undoubtedly be continued.

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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