Hayden Davis, known for creating the controversial LIBRA meme coin, is now linked to a new token called WOLF. Blockchain analysis by Bubblemaps shows that 82% of WOLF’s supply is controlled by a small number of wallets, raising concerns about insider manipulation. This connection comes as Argentine authorities investigate Davis for his role in the LIBRA scandal.
WOLF was launched around the same time rumors spread that Jordan Belfort, the “Wolf of Wall Street,” would introduce a meme coin with the same name. The excitement around WOLF attracted traders, especially from the WallStreetBets community, boosting its market cap to $40 million.
However, similar to previous tokens associated with Davis, WOLF’s price quickly fell, leading analysts to suspect a rug pull. Blockchain data revealed that WOLF’s supply moved through 17 wallets and five blockchains before returning to a wallet linked to Davis.
Davis has a history of controversial projects. LIBRA became a political scandal after Argentine President Javier Milei endorsed it, causing its value to soar past $4 billion before crashing. Insiders who bought LIBRA before the endorsement sold their holdings for over $100 million, leaving retail investors with losses.
Davis has admitted to his involvement in LIBRA and also launched a meme coin related to Melania Trump. His actions have attracted legal scrutiny, with Argentine lawyer Gregorio Dalbon calling for an Interpol Red Notice against him, which could lead to his arrest.
Critics express concern over Davis’ ongoing participation in the crypto space, highlighting the lack of oversight in meme coin projects. The rapid creation of tokens linked to high-profile names often leads to market hype followed by crashes, leaving many investors with worthless assets.
As legal pressures increase, it remains uncertain if Davis will face consequences. While some urge buyers to research before investing, others call for stricter regulations to prevent manipulations like those Davis is accused of. The case of WOLF exemplifies the volatility of the meme coin market, raising questions about the future of unchecked token launches.
