PANews reported on February 16 that Kelsier released an announcement and clarification video on the latest progress of the Libra token solution. He said: "As a launch consultant for the Libra Token project, I want to clarify key aspects of the launch and address the latest developments regarding Javier Milei's involvement and subsequent withdrawal of support. Javier Milei initially supported and actively promoted Libra Token on social media platforms, including X and Instagram. His colleagues received his public support at the time of the launch and assured me that he will continue to be supported throughout the launch process. Given my role as an advisor, my main responsibility is to ensure that the token has sufficient quantity, liquidity and strong funding to support its price and realize the vision of the project. However, as an advisor, there are many factors that I cannot control."
“Despite previous commitments, Milei and his team unexpectedly reversed their stance, withdrawing support and deleting all previous social media support. This abrupt decision was made without any prior warning and directly contradicted previous assurances. To my surprise, Milei later released a statement indicating that his withdrawal was due to alleged misconduct by backers of the project, calling them scammers. I categorically reject this assertion and would like to emphasize that Julian Peh, founder of KIP Network and major sponsor of Libra Token, is completely innocent. I can only assume that Milei’s accomplices are trying to shift the blame onto Julian in order to evade responsibility.”
“It is crucial to recognize that memecoin investing is driven by trust and endorsement. When Milei and his team deleted their posts, investors who had purchased the tokens based on trust in his endorsement felt betrayed. This led to a wave of panic selling, further exacerbating the situation. This sudden loss of confidence had a catastrophic effect on the market stability of the token.”
“Regarding my responsibilities, I am responsible for ensuring liquidity for the project and still maintain control of all associated expenses and funds. I want to make it clear that I have not and will not use these funds for personal gain. As the custodian (not the owner) of these funds, I am unwilling to transfer them to my colleagues at Milei or the KIP team. Instead, after consulting with experts, I propose to reinvest 100% of the funds under my control (up to $100 million) into Libra tokens and destroy all purchased supply. Unless a more viable alternative is proposed, I intend to begin executing this plan within the next 48 hours. I remain committed to transparency and will continue to provide updates as the situation develops.”
According to previous news , KIP Protocol issued a clarification announcement on the release of $LIBRA and the role of KIP, stating that the token issuance and market making are entirely the responsibility of KelsierVentures, represented by the project’s initiator Hayden Davis, and no wallet belongs to KIP or himself.
