LIBRA Creator Hayden Davis Faces Scrutiny Over New WOLF Token
Hayden Davis, creator of the LIBRA meme coin, is linked to a new token called WOLF. Key points include:
- 82% of WOLF's supply is controlled by a small group of wallets, raising concerns about insider manipulation.
- The token's market cap surged to $40 million but later plummeted, suggesting a potential rug pull.
- Funds were transferred across 17 wallets and five blockchains before reaching an address tied to Davis.
- Davis has a history of controversial projects, including LIBRA, which briefly reached a value over $4 billion before collapsing.
- Legal scrutiny is increasing, with Argentine authorities investigating his actions related to LIBRA.
- Critics emphasize the lack of oversight in meme coins, as rapid launches lead to significant losses for retail investors.
- The future of meme coin launches may face challenges due to growing regulatory pressure.
The situation highlights ongoing risks within the meme coin market and the need for greater regulatory measures.