Hayden Davis, the controversial figure behind the LIBRA meme coin, is once again in the spotlight—this time for his alleged involvement with WOLF, a new token that has sparked concerns over insider manipulation.
Blockchain analysis by Bubblemaps revealed that 82% of WOLF’s supply was controlled by a small cluster of wallets, raising red flags about potential market manipulation. This revelation comes as Argentine authorities continue investigating Davis for his role in the LIBRA scandal.
Davis launched WOLF around the same time rumors surfaced that Jordan Belfort, the real-life "Wolf of Wall Street," was introducing a meme coin under the same name. The buzz caught the attention of traders, especially within the WallStreetBets (WSB) community, pushing WOLF’s market cap to $40 million. However, as seen with Davis' previous projects, the token’s price soon plummeted, leading analysts to suspect a rug pull.
Bubblemaps tracked WOLF’s funds moving through 17 wallets and five different blockchains before landing in a wallet tied to Davis. The similarities between WOLF and his past projects—MELANIA and LIBRA—fueled speculation that Davis has been orchestrating a pattern of coordinated token launches followed by crashes.
Davis has a track record of high-profile meme coin scandals. LIBRA, one of his most infamous tokens, skyrocketed past $4 billion after receiving a brief endorsement from Argentine President Javier Milei, only to collapse shortly after. Blockchain investigators found that insiders who had acquired large amounts of LIBRA before Milei’s endorsement cashed out over $100 million, leaving retail investors with devastating losses.
Following the LIBRA fallout, Davis admitted to his involvement and also confessed to launching a meme coin linked to former U.S. First Lady Melania Trump. His repeated role in meme coin controversies has attracted legal scrutiny, with Argentine lawyer Gregorio Dalbon even calling for an Interpol Red Notice that could lead to Davis’ arrest and extradition.
Critics argue that Davis’ continued involvement in the crypto space underscores the lack of oversight in meme coin projects. The rapid launch of tokens tied to high-profile names has become a recurring strategy—creating market hype before an inevitable crash. While traders continue to be drawn to the speculative nature of meme coins, the pattern of insider-driven price collapses has raised serious concerns.
With mounting legal pressure, it remains 1uncertain whether Davis will face consequences for his actions. While some believe that investors should exercise caution before diving into speculative tokens, others are pushing for stricter regulations to curb high-profile manipulations like the ones Davis has been accused of orchestrating.
The WOLF saga is yet another reminder of the risks and volatility within the meme coin market. As authorities increase scrutiny on such schemes, the future of unchecked meme coin launches may soon be in question.
