The Ultimate Rugs Melania & Libra Trigger Global Manhunt

The cryptocurrency market has always been a hotbed of speculation, but when political figures and their associates enter the space, the risks escalate dramatically. Over the past few months, two memecoins—Melania Coin ($MELANIA) and Libra Coin ($LIBRA)—have rocked the financial world, dragging high-profile figures like Argentine President Javier Milei and U.S. First Lady Melania Trump into controversy.

These coins, initially hyped as lucrative opportunities, have led to devastating losses for investors, allegations of insider trading, and even an Interpol Red Notice request for one of the key figures behind their launch—Hayden Davis. As investigators dig deeper into the shady dealings behind these coins, the unfolding scandal serves as a stark warning about the dangers of unchecked speculation in the crypto world.

Interpol Red Notice: The Arrest Request for Hayden Davis

On Thursday, Argentine prosecutor Gregorio Dalbón formally requested that a judge issue an Interpol “Red Notice” for Hayden Mark Davis, a U.S. citizen accused of masterminding the launch of $LIBRA, a memecoin that has not only scammed investors out of millions but also sparked a political scandal involving President Milei.

According to a court document obtained by Fortune, Dalbón emphasized the urgency of detaining Davis, warning that his significant financial resources could enable him to flee and evade justice.

“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, which he can use to move or remain in hiding, hindering our investigation,” Dalbón wrote.

Davis, along with his father Charles Davis and brother Gideon Davis, operates a crypto firm known as Kelsier Ventures, which has been linked to the launch of both $LIBRA and $MELANIA. However, neither Davis nor his family members have responded to media inquiries regarding their involvement in these projects.

Political Endorsements That Fueled the Hype

The $LIBRA memecoin was launched under the banner of Project Viva La Libertad, a blockchain-based initiative tied to Milei’s libertarian economic philosophy. On Valentine’s Day 2025, Milei personally endorsed the coin, instantly boosting its value.

The timing was crucial—just a month prior, former U.S. President Donald Trump had authorized the creation of a Bitcoin reserve and saw his own memecoin, TRUMP Coin, skyrocket in value. Melania Trump followed suit, launching $MELANIA in January, right before her husband’s presidential inauguration.

With political figures openly backing cryptocurrency projects, investor confidence soared. $LIBRA’s market cap surged to over $4.5 billion, making it seem like a revolutionary financial movement.

But then, the rug pull happened.

The $LIBRA Collapse: A Financial Bloodbath

Within days of Milei’s endorsement, blockchain analysts uncovered massive insider trades. Wallets linked to key figures behind $LIBRA—who had acquired large amounts of tokens before the public announcement—dumped their holdings as soon as Milei’s post sent the price soaring.

What followed was an unstoppable crash.

• $LIBRA’s price plummeted over 99%, dropping from billions in market cap to a mere $18 million.
• Thousands of investors lost millions overnight as their portfolios collapsed.
• Investigators found that $LIBRA’s founding team collectively pocketed $87 million before the crash, leaving regular investors with worthless tokens.

Amid growing outrage, Hayden Davis took credit for his role in the coin’s launch, boldly declaring on X (formerly Twitter):

“I am indeed Javier Milei’s advisor.”

He also claimed responsibility for launching Melania’s memecoin, tying himself to both of the year’s biggest crypto disasters.

The Melania Coin Debacle: Another Brutal Crash

Like $LIBRA, Melania Coin ($MELANIA) initially saw an explosive price surge, jumping 24,000% in value after its launch. But within weeks, it followed the same boom-and-bust pattern.

• Investors rushed in, pushing the market cap to astronomical levels.
• Whales—large investors—began dumping their holdings, signaling market instability.
• Some whales lost millions, with one investor losing $15.68 million in a failed trade.
• Ultimately, the market collapsed, erasing over $12 billion in investor wealth.

While Melania Trump herself never officially endorsed the token, its branding and timing suggested an implicit connection to Trump’s pro-crypto stance. Some analysts believe it was strategically timed to capitalize on the broader Trump crypto hype cycle.

Legal Fallout and Political Consequences

The fallout from these crypto scandals has been swift and severe.

• Federal Judge Opens Investigation: Shortly after $LIBRA’s collapse, an Argentine federal judge launched a full-scale probe into the coin’s insider trading activity.
• Milei Under Fire: Opposition parties in Argentina have used the scandal as grounds for calling Milei’s impeachment, branding the event as “Cryptogate”—the first major scandal of his presidency.
• Melania Coin’s Mysterious Origins: While Melania Trump has distanced herself from the project, scrutiny remains over who truly profited from its rapid rise and fall.

Meanwhile, the Interpol Red Notice request for Hayden Davis underscores the severity of the fraud allegations. If granted, this global arrest warrant would compel law enforcement agencies worldwide to track down and detain Davis, preventing him from escaping accountability.

Lessons Learned: The Dangers of Hype-Driven Crypto

The Melania and Libra memecoin fiascos serve as cautionary tales about the dangers of investing in unregulated, hype-driven cryptocurrencies. These cases highlight:

1. The Power of Political Influence: Celebrity and political endorsements can drive massive speculation, but they don’t guarantee legitimacy.
2. The Risk of Insider Trading: Coins launched with pre-mined tokens and insider holdings are ripe for pump-and-dump schemes.
3. The Lack of Oversight: Without proper regulation and transparency, investors remain vulnerable to bad actors exploiting market hype.

With billions of dollars lost and political figures embroiled in scandal, these events reaffirm a hard truth—crypto remains a high-risk, high-reward game, and the biggest winners are often those pulling the strings behind the scenes.

Conclusion: What Happens Next?

As authorities ramp up their investigations, the fate of Hayden Davis, Javier Milei, and the investors who lost millions remains uncertain.

Will the Interpol Red Notice lead to Davis’ arrest?
Will Milei survive the political fallout, or will Cryptogate bring down his presidency?
And who truly benefited from the Melania memecoin’s rise and fall?

Only time will tell, but one thing is certain—the crypto world will be watching.