Core Viewpoint - A class action lawsuit has been filed against Meteora co-founder Benjamin Chow, alleging a systematic fraud scheme that utilized celebrity endorsements to defraud retail crypto investors of at least $57 million [1]. Group 1: Allegations and Operations - The lawsuit claims that Chow and associates operated the Meteora-Kelsier Enterprise as a "fraud factory" disguised as decentralized finance, using the Meteora liquidity-pooling protocol on Solana for multi-token pump-and-dump operations [2]. - Plaintiffs allege that defendants exploited technical settings to acquire a majority of token supplies at negligible costs and manufactured artificial price spikes through undisclosed paid influencers [3]. Group 2: Legal Actions and Demands - The lawsuit seeks disgorgement of all profits, trebling of compensatory damages under RICO statutes, and the appointment of a qualified independent receiver over Meteora's smart-contract programs [4]. Group 3: Fraud Mechanism - The complaint outlines a systematic playbook that includes narrative invention using celebrity endorsements, rigging supply through insider-funded accounts, and engineering price spikes by pausing public trading until insider positions are secured [5]. - The $LIBRA fraud is highlighted as an example, where a social media post from Argentine President Javier Milei coincided with the launch, leading to a retail stampede and subsequent liquidity withdrawal of over $110 million [6][7].

Cryptocurrency Trading Activity - Wallet "LeBron" realized $16.7 million in profits from trading $TRUMP, $MELANIA, and $LIBRA [1] - "LeBron" spent $2 million USDC to acquire 355.5 million $PUMP at a price of $0.0056 per $PUMP [1] - "LeBron" invested 1 million $USDC in the $PUMP public sale, obtaining 250 million $PUMP, valued at $1.46 million [1] Wallet Performance - The wallet "LeBron" is reported to have earned $8.9 million on $MELANIA, $3.2 million on $TRUMP, and $1 million on $HARRYBOLZ [1] - The wallet "LeBron" reportedly earned an additional $4.56 million on $LIBRA [1]

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]