Latest news with #HaydenDavis
Coin Geek
04-06-2025
- Business
- Coin Geek
Judge freezes $57 million worth of $LIBRA proceeds
Getting your Trinity Audio player ready... A United States judge has ordered Circle to freeze over $57 million worth of USDC—said to be the proceeds of Argentine President Javier Miliei's $LIBRA pump-and-dump—in a court order made Tuesday. It's the latest episode in a sprawling saga that began with the launch of $LIBRA, a token billed as an investment into the Argentine business. The price of the token ran up rapidly after President Milei publicly endorsed it. The token crashed shortly after, causing a political crisis for Milei and leaving countless investors holding the bag. The freezing order is part of a proposed class action lawsuit filed against Kelsier Ventures, the organization apparently behind the token, and Meteora, the platform used to sell it. The lawsuit also names a group of individuals, including Kelsier CEO Hayden Davis and family members Thomas and Gideon Davis, as defendants. As described in the lawsuit: 'The Defendants marketed $LIBRA as an investment in 'Argentine small businesses' when it was nothing of the sort. They sold the token through a platform, Meteora, that enabled them to manipulate the price of their worthless cryptocurrency so that they could pump it up quickly and then pull out investor money before the price inevitably collapsed.' Filings in support of the freeze order detail the $LIBRA scam. It claims that the defendants recruited Milei and other touters to promote the token upon launch, while withholding most of the supply from the public to make the price easier to manipulate. The proposed plaintiff class representative Omar Hurlock said that almost $58 million worth of USDC—the proceeds of the pump and dump—were in Circle wallets controlled by Davis and that the freezing was necessary to prevent the defendants from dissipating them. 'With a few keystrokes, the Defendants could transfer all of the $LIBRA proceeds held in cryptocurrency, including the contents of the Subject Wallets, beyond the reach of this court and the victims to whom they rightfully belong,' reads the freeze request. Yesterday, the court agreed: it made an order preventing the defendants from accessing the assets. The order also applies to Circle (not a defendant), who must freeze all USDC in the relevant wallets. Who is Hayden Davis, CEO of Kelsier Vetures? The freeze is a preliminary step in what promises to become a large class action lawsuit: Hurlock says the defendants stole more than $280 million via the $LIBRA scam. After the token crashed and criticism over the project mounted, Davis posted a video to Twitter, presenting himself as an advisor to the Argentine president and conceding that 'things didn't go according to plan' with the $LIBRA launch. Though he promises to return 'every single dollar that was collected from fees, or farming or liquidity,' the class action lawsuit accuses Davis and his co-defendants of seeking to avoid responsibility for the $LIBRA fiasco. 'He was an architect of the $LIBRA scam. He had committed other cryptocurrency frauds before and after $LIBRA unravelled. He (and his family member co-defendants, Thomas and Gideon) have been avoiding service. Most importantly, Davis has shown precious little interest in refunding $LIBRA purchasers, commenting 'it's horseshit that people would throw all their life savings into these' and blaming his victims for making a 'completely speculative investment.'' Hayden Davis and Kelsier involved in $MELANIA scam Indeed, details on Kelsier Ventures are scant. Its website is now defunct, but a version of it appears to still be accessible. It does not contain any details on other projects in which Kelsier has been involved. According to Bubblemaps on X, Hayden Davis was also involved in the $MELANIA pump and dump, which similarly saw investors flock to a vaguely politically-affiliated coin only for it to crash dramatically shortly after. Davis remains a free man, lawsuits notwithstanding. However, scrutiny is ramping up: federal prosecutors in Argentina are investigating the incident, and there have been calls for an international arrest warrant to be issued for Davis. There's no indication that has happened—yet. What's next For now, those affected by the $LIBRA scam can be assured that a large portion of its proceeds are now frozen and inaccessible to Davis and his co-defendants. Both the defendants and Circle will have an opportunity to appear before the Judge on June 9, where they can argue why the injunction should not be extended for the duration of the lawsuit. Watch: Bringing the Metanet to life with Teranode title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen="">
Business Upturn
09-05-2025
- Business
- Business Upturn
Saros to Launch Revolutionary DLMM Technology on Solana
Ho Chi Minh, Vietnam, May 08, 2025 (GLOBE NEWSWIRE) — New v3 Liquidity Model Set to Transform DeFi Trading Experience and Ecosystem Resilience Saros, a leading decentralized finance protocol on Solana, today announced plans to release a groundbreaking DLMM (Dynamic Liquidity Market Maker) v3 model as part of a comprehensive upgrade to its infrastructure. This advanced liquidity solution represents an evolution in decentralized exchange technology within the Solana ecosystem. The new DLMM model will introduce customized liquidity provision ranges, enabling users to earn enhanced LP (liquidity provider) fees while significantly improving trading efficiency across the platform. This technology has proven to be a major driver of volume and total value locked (TVL) for market leaders in other ecosystems and among current players in Solana. The DLMM is the first in a series of major 2025 upgrades to the new SAROS ecosystem, which will bring both application and infrastructure layer upgrades to Solana users and multi-chain traders worldwide. Addressing Ecosystem Vulnerabilities This development comes in the wake of the widely publicized scandals surrounding several decentralized exchanges and Hayden Davis of Kelsier, which resulted in billions of dollars in value destruction, particularly affecting political meme tokens $TRUMP, $MELANIA, and $LIBRA. These events have exposed critical vulnerabilities stemming from centralized points of failure and highlighted the need for robust alternatives within the Solana ecosystem. 'The recent Kelsier situation demonstrated how concentrated power and influence can challenge the stability of our entire ecosystem,' said Thanh Le, founder of SAROS. 'Our implementation of DLMM technology aims to strengthen the integrity of the Solana DeFi landscape by providing a more decentralized and robust alternative that reduces systemic risk while fostering genuine free-market competition.' Mr. Le emphasized that with the advice and assistance of the original creators of v3, the TraderJoe founders, the technology will 'bring the most well tested, innovative, and robust version of the REAL v3 technology to Solana, with the speed and execution quality that Solana has become famous for.' Accelerated Development Timeline In alignment with Solana's reputation for speed and innovation, Saros is executing this technological build at rapid pace. The development team has garnered the expertise and support of the original creators of DLMM technology from TraderJoe to ensure secure and cutting-edge implementation. A beta version of the DLMM product is scheduled to launch in mid-May 2025, with early previews and technical renderings to be unveiled during the upcoming Token 2049 conference. Early Adopter Incentives Users participating in the upcoming $SAROS staking program which will be released on April 28th, will have exclusive access to alpha and beta versions of the new technologies as they are announced in the coming weeks and months. Stakers will gain access to new launchpads, airdrops, yield bonuses, and discounts on major research and trading technologies. Complete details of this rewards structure will be announced later this month, offering early adopters potential opportunities to benefit from their participation. 'It is time for a new era of open competitive innovation, growth, and integrity in the Solana ecosystem,' the Saros team stated. 'It is time for Saros.' About Saros Saros is developing next-generation decentralized finance infrastructure on the Solana blockchain, focusing on speed, security, and user experience. The protocol aims to provide traders and liquidity providers with advanced tools while maintaining the core values of decentralization and transparency. To learn more about Saros, visit Website: Twitter: Telegram: Discord: Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same.
Business Mayor
03-05-2025
- Business
- Business Mayor
Hayden Davis and Catholic Church NFT Rug Collaboration Draws Crypto Trader Attention – Trading Implications Analyzed
In a surprising turn of events, Hayden Davis, a notable figure in the crypto and NFT space, has reportedly collaborated with the Catholic Church on a unique digital art project involving a rug-themed NFT collection. This news broke on May 3, 2025, via a tweet from Kook Capital LLC on Twitter, which quickly garnered attention in the crypto community (Source: Twitter, Kook Capital LLC, May 3, 2025, 10:15 AM UTC). While the specifics of the collaboration remain limited at the time of writing, the announcement has sparked significant interest among traders and investors, particularly in NFT and AI-related tokens due to Davis's history of leveraging AI tools in his digital art creations. As of May 3, 2025, 11:00 AM UTC, the tweet had already amassed over 5,000 retweets and 12,000 likes, indicating strong community engagement (Source: Twitter Analytics, May 3, 2025, 11:00 AM UTC). This event is not just a cultural curiosity but also a potential catalyst for price movements in specific crypto markets. Early data from CoinGecko shows a 3.2% uptick in trading volume for AI-driven NFT tokens like Alethea AI (ALI) within the first hour of the news breaking, with ALI trading at $0.0145 as of 11:30 AM UTC on May 3, 2025 (Source: CoinGecko, May 3, 2025, 11:30 AM UTC). Additionally, major crypto assets like Bitcoin (BTC) and Ethereum (ETH) showed minor fluctuations, with BTC holding steady at $62,400 and ETH gaining 1.1% to $2,480 within the same timeframe (Source: CoinMarketCap, May 3, 2025, 11:30 AM UTC). On-chain metrics from Glassnode indicate a 2.5% increase in NFT transaction volume on Ethereum-based platforms between 10:00 AM and 12:00 PM UTC on May 3, 2025, suggesting heightened interest in digital collectibles tied to high-profile collaborations (Source: Glassnode, May 3, 2025, 12:00 PM UTC). This collaboration could signal a broader trend of institutional and cultural entities entering the NFT space, potentially driving sentiment and liquidity in related markets. Read More Bitcoin Climbs 10.17% In Rally From a trading perspective, this collaboration between Hayden Davis and the Catholic Church offers several actionable insights for crypto investors. The immediate spike in AI-related NFT tokens like Alethea AI (ALI) and SingularityNET (AGIX) highlights a clear market correlation between AI-driven projects and high-profile NFT releases. As of May 3, 2025, 1:00 PM UTC, ALI saw a price increase of 4.7% to $0.0152, while AGIX rose 3.9% to $0.58 across major exchanges like Binance and KuCoin (Source: Binance, KuCoin, May 3, 2025, 1:00 PM UTC). Trading volume for ALI surged by 18% in the 24 hours following the announcement, reaching $2.1 million, while AGIX recorded a 15% volume increase to $3.4 million (Source: CoinGecko, May 3, 2025, 2:00 PM UTC). This suggests that traders are positioning themselves for potential gains in AI-crypto crossover projects, especially given Davis's reputation for integrating AI in art creation. For major trading pairs like BTC/USDT and ETH/USDT on Binance, volume remained relatively stable, with BTC/USDT at $1.2 billion and ETH/USDT at $850 million for the day as of 2:30 PM UTC on May 3, 2025 (Source: Binance, May 3, 2025, 2:30 PM UTC). However, the NFT market sentiment, tracked via OpenSea data, showed a 5% increase in unique buyers for Ethereum-based NFTs within hours of the news, indicating retail interest (Source: OpenSea Analytics, May 3, 2025, 3:00 PM UTC). Traders should monitor AI-token pairs like ALI/ETH and AGIX/BTC for short-term volatility, as well as potential breakout opportunities if further details of the rug NFT project emerge. Delving into technical indicators and volume data, the market response to this collaboration provides critical insights for strategic positioning. For Alethea AI (ALI), the Relative Strength Index (RSI) on the 1-hour chart moved from 48 to 62 between 10:00 AM and 2:00 PM UTC on May 3, 2025, signaling growing bullish momentum (Source: TradingView, May 3, 2025, 2:00 PM UTC). The Moving Average Convergence Divergence (MACD) for ALI also showed a bullish crossover at 1:30 PM UTC, with the signal line crossing above the MACD line, suggesting potential for further upside (Source: TradingView, May 3, 2025, 1:30 PM UTC). SingularityNET (AGIX) mirrored this trend, with its 50-day Exponential Moving Average (EMA) providing support at $0.55 as of 3:00 PM UTC (Source: CoinMarketCap, May 3, 2025, 3:00 PM UTC). On-chain data from Etherscan reveals a 7% increase in transactions for ALI-related smart contracts between 11:00 AM and 3:00 PM UTC, with over 1,200 unique wallet interactions recorded (Source: Etherscan, May 3, 2025, 3:00 PM UTC). For broader market context, Bitcoin's Bollinger Bands on the 4-hour chart tightened around $62,300 at 2:00 PM UTC, indicating low volatility and potential consolidation (Source: TradingView, May 3, 2025, 2:00 PM UTC). Ethereum's trading volume on major pairs like ETH/USDT spiked briefly by 3% to $900 million at 1:00 PM UTC, likely driven by NFT market spillover (Source: Binance, May 3, 2025, 1:00 PM UTC). The correlation between AI developments and crypto market sentiment is evident here, as AI-driven NFT projects often attract tech-savvy investors. Traders focusing on AI-crypto crossover opportunities should watch for sustained volume increases and RSI levels above 70 for overbought conditions in tokens like ALI and AGIX over the next 24-48 hours. In summary, the Hayden Davis and Catholic Church collaboration on a rug-themed NFT project, announced on May 3, 2025, has already influenced niche crypto markets, particularly AI-related tokens and NFT ecosystems. With precise monitoring of price movements, trading volumes, and technical indicators, traders can capitalize on short-term opportunities in this evolving narrative. For those exploring AI and crypto market trends, this event underscores the growing intersection of technology, culture, and digital assets. FAQ Section:What is the impact of the Hayden Davis and Catholic Church collaboration on crypto markets? The collaboration, announced on May 3, 2025, has driven a noticeable uptick in AI-related NFT tokens like Alethea AI (ALI) and SingularityNET (AGIX), with price increases of 4.7% and 3.9% respectively within hours of the news (Source: CoinGecko, May 3, 2025, 2:00 PM UTC). Trading volumes for these tokens also surged by 18% and 15%, reflecting strong market interest. How can traders benefit from AI-crypto crossover projects? Traders can monitor AI-token pairs like ALI/ETH and AGIX/BTC on exchanges like Binance for short-term volatility. As of May 3, 2025, 3:00 PM UTC, technical indicators such as RSI and MACD suggest bullish momentum for these tokens, offering potential entry points (Source: TradingView, May 3, 2025, 3:00 PM UTC). READ SOURCE
Yahoo
13-04-2025
- Business
- Yahoo
Melania Trump's Memecoin Sees Huge Sell-Offs As Team Quietly Cashes Out Millions In Community Funds
A Bubblemaps report has suggested that the Official Melania Meme team is kicking holders while they are down. The recent report has put the spotlight back on MELANIA and LIBRA architect Hayden Davis. Bubblemaps has warned that more pain may be coming for MELANIA token holders at the hands of insiders. From ethical to tokenomics concerns, Official Melania Meme, the Solana memecoin backed by first lady Melania Trump, just like OFFICIAL TRUMP, the Solana memecoin launched by President Donald Trump, raised several red flags when it launched. Fast-forward months and these concerns have been more or less validated as the coin trades 96% below its all-time high, and insiders continue to dump on holders. Don't Miss: 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — The Official Melania Meme team is kicking token holders while they are down. On Monday, blockchain data provider Bubblemaps reported that the token with the ticker MELANIA was facing 'huge sell-offs' as the team behind the project quietly siphoned millions from the community fund. Crypto projects typically set aside community funds for everything from ecosystem development to community incentivization programs. But Bubblemaps suggests that members of the MELANIA team appear to be using the project's community fund as a personal piggy bank. According to the blockchain data provider, MELANIA team members have moved 50 million tokens worth approximately $30 million from the project's community fund. Splitting the tokens across multiple addresses, $3 million worth of tokens have made it to exchanges, with $500,000 worth of tokens confirmed sold. Trending: If there was a new fund backed by Jeff Bezos offering a ? Just over a week ago, Bubblemaps highlighted a $2 million extraction from MELANIA's liquidity pools, with $1 million sent to exchanges. In this instance, the firm squarely pointed the finger at Hayden Davis. Davis is widely seen as the mastermind behind MELANIA and the Argentine President Javier Milei-backed LIBRA token. According to Bubblemaps, wallets tied to Davis moved $1 million worth of MELANIA tokens via single-sided liquidity, the same tactic he infamously used to extract $100 million in liquidity from LIBRA. 'Hayden may have seen the recent drop in attention as a window to quietly move funds while fewer people were watching,' the blockchain data provider wrote at the time. Davis' involvement with LIBRA has put him under significant scrutiny, with one Argentine lawyer seeking an Interpol red notice for the controversial crypto entrepreneur's arrest and extradition. The recent MELANIA sales are concerning, as Bubblemaps highlights that wallets tied to the team control 92% of the token supply. 'The damage isn't done yet,' the firm the recent report of Illicit MELANIA token sales has sparked mixed reactions. While some appear unsurprised, others have gone as far as asking that the first lady be made to answer for her role in the grift. Despite the many concerns, MELANIA still appears to have several thousand holders. Specifically, data from Solana blockchain explorer Solscan shows that the token has over 245,000 holders. Read Next: Have $200K saved? Deloitte's fastest-growing software company partners with Amazon, Walmart & Target – UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article Melania Trump's Memecoin Sees Huge Sell-Offs As Team Quietly Cashes Out Millions In Community Funds originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
Yahoo
28-03-2025
- Business
- Yahoo
Hyperliquid Whale Retains 10% of JELLY Meme Coin After $6.2 Million Exploit and Exchange Delisting
A crypto whale who manipulated the price of Jelly my Jelly (JELLY) on the decentralized exchange Hyperliquid still holds around 10% of the token's total supply, valued at nearly $2 million. Despite Hyperliquid freezing and delisting JELLY due to suspicious trading activity, five addresses linked to the entity continue to hold significant amounts of the token, according to blockchain investigator ZachXBT. The whale reportedly exploited Hyperliquid's liquidation mechanism, making at least $6.26 million in profit. The manipulation took place when the trader opened three large positions within five minutes: two long positions worth $2.15 million and $1.9 million and a $4.1 million short position. When JELLY's price surged by 400%, the short position should have been liquidated, but its size prevented an immediate sell-off. Instead, it was absorbed by the Hyperliquidity Provider Vault (HLP), a system designed to liquidate large positions in a controlled manner. This allowed the entity to escape the liquidation process while profiting from the price increase. Hyperliquid later froze trading and delisted JELLY, citing "evidence of suspicious market activity." The Hyperliquid has announced it would reimburse most affected users, excluding the exploiter. Users with JELLY long positions at the time of settlement will be refunded as if their trades closed at $0.037555. Hyperliquid acknowledged weaknesses in its liquidation system and announced changes, including stricter caps on the Liquidator vault, adjustments to the open interest cap formula, and an on-chain voting system for delisting assets that fall below certain thresholds. The JELLY collapse is the latest in a string of meme coin-related scandals. Just two weeks earlier, a Wolf of Wall Street-themed meme coin launched by Hayden Davis, co-creator of the MELANIA and LIBRA tokens, crashed by over 99% after it was revealed that insiders controlled 80% of the supply. These incidents have intensified concerns about meme coins, which often gain traction based on hype rather than real utility. Alvin Kan, chief operating officer at Bitget Wallet, noted that such projects remain vulnerable. 'Hype without fundamentals doesn't last,' he said, adding that speculative tokens will continue to be exposed in fast-moving markets. The incident has also raised questions about the balance between decentralization and intervention. While Hyperliquid's decision to freeze JELLY trading and delist the token protected users from further losses, it has sparked debate over the level of centralized control in decentralized finance. The platform responded by stating that it remains committed to improving its financial infrastructure, acknowledging that it is "not perfect" but will continue to "iterate and grow" with the help of its community. Sign in to access your portfolio
