Crypto influencer Threadguy says he had “zero insider information” after he misplaced $250,000 buying and selling the LIBRA token launched by Argentine president Javier Milei.
After the token collapsed from a $4.5 billion market cap, accusations of insider buying and selling have been leveled at Threadguy and different members of the so-called “LA Vape Cabal.”
Accusers level to a stay stream hosted by Threadguy through which he mentioned there had been “rumblings” and “whispers” about an Argentina coin. Throughout the identical stream, Threadguy’s fellow Vape Cabal member Faze Financial institution known as to say that he and his supervisor misplaced cash on LIBRA.
He instructed Threadguy, “I got in really, really early. I was like up $300K and fucking luckily…” earlier than Threadguy muted the stream and lined his mouth for nearly 30 seconds.
Threadguy has since uploaded a 10-minute video denying the “baseless” accusations of insider buying and selling and eliminated his profile image from his X account.
“I would implore you, as the whole thing happened live, to go find proof, go find a message, go find a Solscan transaction, go find anything that attaches this to me whatsoever because it doesn’t exist,” he mentioned.
In line with Threadguy, the launch of an Argentina coin was an open secret throughout the crypto neighborhood. On muting the Faze Banks name, he claims there have been messages that popped up on his cellphone that he didn’t need to present to three,000 folks whereas livestreaming.
Faze Banks has since acknowledged that he doesn’t have something to do with LIBRA, and one other crypto influencer, Frankdegods, has additionally clarified that he “did not get insider on this launch.”
Hayden Davis, who holds $100 million in funds comprised of LIBRA, is now specializing in harm management and claims the LA Vape Cabal has “no idea what’s going on,” including, “I’ve never met them.”
Milei is digging himself a gap
Argentina’s president Javier Milei can also be on the defensive. In his first TV interview since he launched LIBRA, he claimed, “I did not promote that… I spread the word.”
It’s price noting, nonetheless, that after denouncing the undertaking, Milei later retweeted a tutorial demonstrating purchase the Libra token.
He retweeted this tutorial two days after distancing himself from the LIBRA launch.
Within the interview, he additionally downplayed the variety of potential merchants, saying 5,000 folks (amongst them solely “four or five” Argentinians) have been doubtless concerned and never 44,000 because the interviewer implied.