Kelsier Ventures, the company at the heart of the controversial LIBRA meme coin scandal, is reportedly in talks with Nigerian officials to launch a similar project on the Solana blockchain.
According to recent reports, the team behind LIBRA is aiming to launch another meme coin in collaboration with the Nigerian government.
Hayden Davis, CEO of Kelsier Ventures, has acknowledged receiving numerous offers for further ventures, though he denies involvement in illegal activities tied to the LIBRA affair.
Despite Davis’ claims that the firm retains control over the funds and denies any wrongdoing, the scandal has raised questions about the firm’s practices. He asserted that Argentina's President Javier Milei's team unexpectedly shifted their position on the project, leading to its downfall.
Notably, Davis previously confessed to multiple financial crimes during an interview, framing them as opportunities that opened new doors for him in the criminal sphere. These admissions point to a broader pattern of fraudulent activities within the cryptocurrency space.
While there is no direct involvement from Nigerian President Bola Tinubu, members of his team have reportedly participated in the discussions. These talks are believed to have occurred before the LIBRA scandal, raising concerns about how one illicit project could pave the way for others.
The rise of political meme coins has sparked uncertainty among major cryptocurrency figures, who have struggled with how to address such projects. The trend has seen hackers exploit high-profile figures, including former leaders like Brazil's president and Malaysia's prime minister, to launch fake meme coins for personal gain.