KIP Protocol, a web3 firm associated with the scandal token, has denied any involvement in the launch of the controversial Project Viva La Libertad and its affiliated Libra token. The firm released a statement on February 24, 2025, clarifying that it had been invited in mid-February to help manage financing for Argentinian small and medium enterprises, but had no part in creating or promoting the token.
According to KIP Protocol, the token launch was initiated and managed by Hayden Davis, also known as Kelsier, without any involvement from their firm. They emphasized that they were unaware of the token’s sale date and did not receive any tokens or payments from the project. KIP Protocol also stated that they were asked to post about the project after the token had already launched, while Argentinian President Javier Milei’s endorsement was still active.
The firm further clarified that they have no prior or ongoing relationship with Milei, aside from a brief meeting in October 2024. They also confirmed that none of the wallets involved in the Libra launch belonged to KIP Protocol. In the aftermath of Libra crashing by 95%, YouTuber Stephen Findeisen interviewed Hayden Davis, who implicated Tech Forum Argentina’s Mauricio Novelli, Manuel Godoy, and KIP Protocol as key figures in the project.
Davis, however, claimed to be only a facilitator and not a deployer or team member of the project. He admitted to holding $100 million tied to the project, which he described as leverage with certain groups and parties. Davis also warned retail investors to study the market thoroughly, referring to the meme coin market as an unregulated casino.
The controversy surrounding the Libra token and its collapse has raised questions about the involvement of various parties, including KIP Protocol. The firm’s denial of any role in the project highlights the complexity and risks associated with the cryptocurrency market, particularly in the realm of meme coins. As the investigation into the Libra launch continues, stakeholders in the crypto community are urged to exercise caution and due diligence in their investments.