Libra, Melania, and Now Wolf of Wall Street: Hayden Davis’ Memecoin Crashes

On March 8, 2025, Hayden Davis, previously known for launching the LIBRA and MELANIA tokens, introduced WOLF, a memecoin seemingly inspired by Jordan Belfort, the infamous “Wolf of Wall Street.” The token quickly gained traction, reaching a market cap of $42 million in a matter of hours.

However, the hype was short-lived. Within days, WOLF’s value plummeted by 99%, leaving investors devastated. The token’s crash followed a familiar pattern seen in Davis’s past projects—an initial surge in price, followed by a rapid and near-total collapse.

Blockchain analysts at Bubblemaps uncovered evidence suggesting insider manipulation in WOLF’s trading activity. Reports indicate that 82% of the total token supply was controlled by a single entity, mirroring the distribution patterns of Davis’s past projects. Bubblemaps reported in a March 16 post on X:

This kind of concentrated ownership is a red flag for insider trading, allowing early investors—often project insiders—to manipulate the price before dumping their holdings, leaving retail investors with worthless tokens.

Davis has not publicly responded to the allegations, but the pattern seen in his previous ventures is hard to ignore.

Davis is no stranger to controversy. His previous project, the LIBRA token, skyrocketed to a $4.4 billion market cap before collapsing by over 95%, leading to huge financial losses. His involvement in the MELANIA token—tied to former First Lady Melania Trump—also ended in disaster, raising further suspicions about his involvement in market manipulations.

The fallout from these projects has now escalated into an international legal matter. Argentine attorney Gregorio Dalbón has formally requested an Interpol Red Notice for Davis, citing concerns that his financial resources could help him evade justice.

If the warrant is issued, Davis could be arrested in any country that cooperates with Interpol, marking a significant step in efforts to crack down on crypto fraudsters.

The LIBRA fiasco has also created political turmoil in Argentina, where President Javier Milei had publicly endorsed the token before its collapse. Many Argentine investors lost money, and the scandal has led to legal scrutiny and calls for Milei’s impeachment.

Milei has since distanced himself from LIBRA, claiming he was unaware of the project’s inner workings. However, the controversy has dealt a major blow to his credibility, raising questions about political involvement in crypto schemes.

The WOLF debacle adds to growing skepticism about memecoins and their role in the broader cryptocurrency market. Critics argue that these tokens, often based on hype rather than fundamentals, attract speculative trading and insider manipulation, making them highly risky investments.

With Davis now facing potential international legal action, regulators worldwide are expected to intensify scrutiny on memecoins and similar projects. For investors, the lesson is clear: the promise of quick profits in the memecoin space often comes with extreme risks.

The collapse of WOLF is just the latest chapter in a long-running saga of crypto scandals. Whether it will mark the end of Davis’s involvement in the industry—or just another setback before his next venture—remains to be seen.