Blockchain analytics platform Bubblemaps published new onchain evidence indicating that the controversial Argentina-themed memecoin $LIBRA and the $MELANIA coin linked to former U.S. First Lady Melania Trump are controlled by the same inner circle, centered on Kelsier Ventures CEO Hayden Davis. In response to mounting scrutiny, Davis has publicly acknowledged that he was an insider on MELANIA while also being the key figure behind LIBRA, effectively confirming that both projects shared the same team and overlapping wallets. Bubblemaps’ visualizations and wallet-tracing show significant profits and tightly clustered ownership patterns across the two tokens, suggesting coordinated activity rather than independent communities. This revelation comes against the backdrop of a wider scandal around LIBRA and MELANIA, both of which experienced rapid price spikes followed by severe crashes that wiped out large amounts of investor capital. LIBRA, promoted by Argentina’s President Javier Milei before collapsing, has already drawn legal and political scrutiny, while MELANIA is at the center of a U.S. civil class action that accuses Hayden Davis, Kelsier-related entities, and associates of running a broader pump‑and‑dump scheme across at least 15 tokens. The new onchain links between LIBRA and MELANIA, now effectively corroborated by Davis’s own admission of insider status, strengthen the narrative that these high‑profile memecoins were part of a coordinated operation rather than isolated projects, increasing legal exposure for those involved and underscoring growing regulatory and market concerns about insider-controlled memecoin launches.

AI-generated background, compiled from web sources — not editorial content.

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