Devenez Insider

EXCLUSIVE: Libra memecoin team plotted Nigerian expansion

Raphaël Bloch

Monday, February 17, 2025

The company behind the fraudulent memecoin promoted by Argentine President Javier Milei was developing a similar project with the Nigerian authorities. However, the Libra scandal means that this project is unlikely to come to fruition.

How far will the Libra scandal go?

While it's still too early to tell, the case of the fraudulent memecoin promoted by Argentine president Javier Milei continues to gain momentum.

On Monday, several US law firms, including Bruwick Law, announced that they intend to launch class action lawsuits against the Argentine president. The opposition, for its part, is considering impeachment proceedings, accusing Javier Milei and his entourage of having been accomplices to several crypto companies in a scandal worth several hundred million dollars.

One of these companies, the American Kelsier Ventures, is particularly in the news.

In a video interview broadcast this Monday, Kelsier Ventures CEO Hayden Davis tried to play down the affair, explaining that the mememecoins are risky investments by nature and that there was "a lot of conflict of interest" in the sector.

The young American entrepreneur, who said he wanted to "find a solution for investors", also revealed that he had collaborated on Melania Trump's recent memecoin ($MELANIA). A connection confirmed by Bubblemaps, which identified links between the wallets of the MELANIA AND Libra projects.

These revelations have prompted a great deal of comment, particularly on the background to the memecoin launched by Donald Trump. Was it too piloted by Kelsier Ventures and some of its partners? For the moment there is nothing to make the connection.

Meanwhile, the story doesn't end there: according to our information, Kelsier Ventures was also preparing a memecoin on the Solana blockchain with members of the Nigerian administration.

While it cannot be said that the Nigerian president, Bola Tinubu, was directly involved, the exchanges did involve members of his team.

"The project was well advanced," confided a source close to the matter. The Big Whale was unable to reach the Nigerian presidency.

Also according to our information, other states have been approached about launching memecoins.

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This analysis is not investment advice. It has been prepared without taking into account your personal situation, particularly your financial situation, risk profile, and investment objectives.

Before investing in any product, investors should fully understand the risks involved and consult their own legal, tax, financial, and accounting advisors.

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