KIP Protocol Denies Involvement in LIBRA Token’s Creation and Management
KIP Protocol denied any involvement with the LIBRA token's creation or management, which lost 95% of its value after launch. The company clarified that it only assisted with an unrelated financing initiative for SMEs in Argentina following an invitation from Mauricio Novelli on February 13, 2025.
Key Points
- KIP Protocol did not profit from LIBRA and had no financial ties to its launch.
- No wallets related to LIBRA were connected to KIP.
- KIP's CEO Julian Peh met President Milei once, without discussing LIBRA.
- The token sale was organized by Hayden Davis, who admitted to initiating it.
- KIP posted support for LIBRA at Novelli's request, based on prior confidence in the project.
Hayden Davis claimed to be a facilitator of LIBRA but acknowledged holding $100 million linked to it. KIP stated its commitment to transparency and readiness to cooperate with investigations. The LIBRA token's value dropped over 81% in the last 24 hours.
An Argentine law firm has called for an investigation into LIBRA's collapse, including allegations against President Milei. Civic Coalition ARI filed a complaint urging an inquiry into potential bribery and fraud within Milei's government.