Hayden Davis, the meme coin shiller behind LIBRA and MELANIA, has returned to the crypto market. The Kelsier Ventures wallets funded a new address that started swapping new memes and interacting with Kamino Lend. According to reports, the wallets linked to Kelsier Ventures sent out USDC, despite an earlier freeze of over $57 million in stablecoins.
The first transfer was small, moving approximately $14,770 worth of USDC to kickstart its meme coin trading. Another address sent funds to Kamino Lend, depositing 199.60K USDC. The lending wallet has been active for months, but this activity was its first since June. Kelsier Ventures is not blocked from on-chain Solana activity, though most of its transfers are relatively small-scale compared to previous token activities.
Hayden Davis returns to take up BRYAN token
In addition to the occasional trading activity, Davis is also fighting to dismiss the class action lawsuit from traders hurt by the crash of the LIBRA token. Meanwhile, Hayden Davis is now focusing on small-scale trading for a newly launched token. BRYAN is an extremely illiquid token, still building its liquidity against SOL. The wallets linked to Kelsier Ventures performed multiple small-scale purchases of BRYAN. As a result, the wallet now holds 3.83% of the BRYAN supply.
The token is yet to produce any returns, still only boasting its $100K in its liquidity pair. The engagement from Kelsier Ventures positions the fund as an early buyer, as BRYAN is a relatively recent launch. Previously, Kelsier Ventures wallets interacted with BRYAN on multiple occasions. Currently, the Kelsier Ventures fund still holds $943.77K of BRYAN, after previously selling some of its holdings. It remains unknown what Kelsier Ventures wants with BRYAN, with the token presently down 99% from its peak in January.
During the peak of the LIBRA scandal, Kelsier Ventures was fully interacting with the Solana economy. The remaining assets in Kelsier Ventures’ wallets were put to work on Kamino Lend, the growing Solana protocol. Previously, the fund deposited as much as $2.4M, achieving regular passive income from Kamino’s yield. Some of the funds used on Kamino Lend came from the proceeds of trading LIBRA and MELANIA.
Despite the ongoing lawsuits, Kelsier Ventures has not been blocked from using its assets for short-term trades. In addition, the fund is mining Kamino points and is looking to benefit from an eventual airdrop on the platform. Kelsier Ventures retains $5.87M in its known addresses, down from around $10M at the beginning of the year. While not trading aggressively, the fund still tries to use some of its remaining stablecoins.
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