KIP Protocol Distances Itself from Scandalous Libra Token Launch

Web3 firm KIP Protocol has denied any involvement in the launch of the scandalous Libra token, which has plummeted 95% in value. The firm stated that it had no role in initiating or managing the project, contrary to claims made by Hayden Davis, a key figure behind the token.

A Statement from KIP Protocol

KIP Protocol acknowledged the harm caused by the Libra situation to investors, customers, and the wider crypto community. The firm expressed shock over the recent events and sought to clarify the facts regarding its involvement in the project.

We recognize the harm that the $LIBRA situation has caused many investors, our customers and to the wider crypto community. Like many, we have been shocked by the recent events and want to clarify facts regarding KIP…

No Role in Launching Project Viva La Libertad

KIP Protocol denied any involvement in launching Project Viva La Libertad and its affiliated Libra token. According to the firm, it was invited in mid-February to help manage financing for Argentinian small and medium enterprises but had no part in the token’s creation or promotion.

The firm emphasized that the launch was initiated and managed by Hayden Davis, also known as Kelsier, with no involvement from KIP. KIP also stated that it was unaware of the token’s sale date and did not receive any tokens or payments.

No Prior or Ongoing Relationship with President Milei

KIP Protocol emphasized that it has no prior or ongoing relationship with Argentinian President Javier Milei, aside from a brief meeting in October 2024. The firm also stated that none of the wallets involved in the Libra launch belong to KIP, and emphasized that it “did not receive any tokens or payments” from the token launch.

Hayden Davis’s Claims

Hayden Davis, a key figure behind Libra, claimed that KIP Protocol was involved in the project. However, KIP Protocol has denied these claims, stating that it was only asked to post about the project on social media after the token launched.

Davis suggested that retail investors should educate themselves thoroughly before investing in the meme coin market, describing it as an “unregulated casino.”

Key Takeaways

  • KIP Protocol has denied any involvement in the launch of the Libra token.
  • The firm stated that it had no role in initiating or managing the project.
  • KIP Protocol emphasized that it has no prior or ongoing relationship with President Milei.
  • The firm did not receive any tokens or payments from the token launch.

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