Core Viewpoint - The article discusses the rise and fall of Hayden Davis, a prominent figure in a recent cryptocurrency scandal involving the $LIBRA token, which has connections to Argentine President Javier Milei. The narrative highlights Davis's background, the project's impact, and the ensuing legal troubles. Group 1: Background of Hayden Davis - Hayden Davis transitioned from selling energy drinks and cookies to becoming a notable figure in the cryptocurrency space, dubbed the "cryptocurrency king" [3] - Davis's family, particularly his father Tom Davis, founded Kelsier Ventures, which played a significant role in the launch of the $LIBRA token [4][10] - Prior to $LIBRA, Davis had a history of various business ventures, including selling energy drinks and running a T-shirt printing company [13][15] Group 2: The $LIBRA Token - $LIBRA was launched on February 14, 2023, as a meme coin aimed at funding Argentina's economic development, but its market value plummeted, losing approximately $1 billion [5] - Over 10,000 investors reportedly lost at least $250 million, while Davis claimed to have profited nearly $100 million by selling his holdings before the collapse [6] - The token's launch was heavily promoted by President Milei, which initially drove its price up before it crashed [25][26] Group 3: Legal and Political Implications - Following the collapse of $LIBRA, legal actions and criminal investigations emerged, with Argentine federal prosecutors launching a fraud investigation into the token's issuance [11] - The article notes that Davis's actions and connections to Milei have drawn significant scrutiny, leading to calls for investigations by U.S. authorities [27] - Both Davis and Milei have made statements downplaying the risks associated with investing in meme coins, framing it as a high-risk venture akin to gambling [29][30]