LIBRA Coin Team Explored Nigeria For Meme Coin Launch Before The Javier Milei Scandal

1. WHO: Investors in the LIBRA meme coin were primarily affected, with potential risks extending to would-be investors in the proposed Nigerian meme coin project. The situation involves Kelsier Ventures, led by CEO Hayden Davis, and allegedly some members of Nigeria's administration (though not directly linked to President Bola Tinubu). 2. WHAT: The LIBRA meme coin, after being promoted by Argentinian President Javier Milei, experienced an extreme price volatility - skyrocketing from zero to over $4 before crashing to under 50 cents. Kelsier Ventures, the company behind LIBRA, allegedly considered launching a similar meme coin project in collaboration with members of Nigeria's administration. 3. HOW: The dramatic price manipulation appears connected to high-profile political endorsement and possible market manipulation. To protect themselves, investors should: avoid projects with political figure endorsements, research team history thoroughly, be wary of rapid price movements, verify project legitimacy through multiple sources, and never invest more than they can afford to lose in highly speculative meme coins. 4. WHY: This situation likely stems from the intersection of cryptocurrency speculation, political influence, and market manipulation. The fact that Kelsier Ventures has been involved in multiple controversial launches (LIBRA and MELANIA) suggests a pattern of creating hyped projects that may not have sustainable value propositions. 5. WHERE: The effects primarily impacted crypto investors globally who participated in the LIBRA coin, while the proposed Nigerian project would have potentially affected investors in Nigeria and internationally, though Nigeria's crackdown on crypto activities may have limited local impact.