LIBRA Co-Creator Hayden Davis Doesn’t Deny Wallets Linked to the Project ‘Sniped’ Memecoin Launch
One of the co-founders of the controversial memecoin LIBRA says the project itself “sniped” the token right after it rolled out. In crypto trading, sniping refers to the practice of using trading bots or scripts to buy a newly launched coin ahead of big transactions or the entry of retail traders. Snipers get their edge by buying early in anticipation of a massive spike in trading volume with the arrival of other investors. In a new interview on the voidzilla YouTube channel, LIBRA co-creator Hayden Davis says he does not deny that wallets linked to the project sniped the memecoin on launch day. According to Davis, LIBRA had a separate treasury dedicated to gobbling up the token and front-running other investors. “ That money that we consider ‘sniping’ is the project’s money.” Davis says teams behind memecoin launches often practice sniping “to deter” others from getting in early. “From the standpoin...