Hayden Mark Davis, creator of the $LIBRA memecoin, is facing potential arrest after an Argentine lawyer requested Interpol’s Red Notice due to substantial financial losses incurred by investors following a promotional campaign by President Milei. Davis, who reportedly profited prior to the crash, may face extradition for alleged fraud conspiracy, with previous controversies also noted.

A legal request has been made by an Argentine lawyer for Interpol to issue a “Red Notice” for the apprehension of Hayden Mark Davis, a U.S. citizen and creator of the $LIBRA memecoin. Argentine President Javier Milei’s promotion of this coin has led to significant financial losses for many investors after its value collapsed. This troubling situation has put Milei at risk of impeachment and Davis in jeopardy of extradition to Argentina.

Gregorio Dalbón, the lawyer representing this request, contends that Davis presents a notable flight risk due to his financial means and potential intentions. Dalbón stated, “The possibility that Davis will abandon his country of residence or hide to avoid answering for his alleged acts appears to be aggravated by the economic resources he possesses.”

A Red Notice serves effectively as an international arrest warrant. Should it be enacted, Davis could potentially be arrested by U.S. authorities and extradited to Argentina. Following its launch, the $LIBRA memecoin experienced an unprecedented surge, reaching a market cap of $4.5 billion, only to plummet to $18 million, resulting in losses totaling approximately $250 million for over 10,000 investors. Notably, Davis reportedly profited $100 million by selling his holdings prior to the crash.

Prior to $LIBRA, Davis had launched the $MELANIA memecoin, which also experienced a similar rise and fall. Confusion surrounded this coin’s launch, leading many to mistakenly believe it was initiated by First Lady Melania Trump. The close rapport between Milei and Davis has been publicly acknowledged, with Milei sharing photos of their interactions. A CoinDesk report suggested that Davis claimed significant influence over Milei, stating his control in a private text.

Incidents of Davis’s controversial behavior have become well-known, including an occasion when he allegedly left entrepreneur Steven Enamakel to cover a $2,000 dinner bill at Nobu. Enamakel recounted how Davis ordered excessive expensive sushi, departing just before the bill was presented, leaving him to settle it. Following this event, Davis’s subsequent influence on Enamakel’s NFT launch faltered, which led to further discontent.

The investigation into $LIBRA was initiated within days of Milei’s endorsement of the memecoin and is focused on whether a conspiracy to commit fraud between Milei and Davis exists. Potential legal consequences for Davis include charges of bribery and influence peddling, underscoring the seriousness of the allegations against him.

The unfolding situation surrounding Hayden Mark Davis highlights significant issues within cryptocurrency operations and fraudulent schemes. With the legal scrutiny intensifying in Argentina, both Davis and President Milei face serious repercussions as investigations abound. Should Interpol’s Red Notice be successful, it may set a precedent for addressing accountability in the crypto industry. Stakeholders are advised to remain vigilant in the evolving landscape of digital currencies.

Original Source: gizmodo.com

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