The team behind LIBRA has cashed in $107 million, Animoca Brands denies participating

GuShiio.com learned that according to LookOnChain monitoring, eight wallets associated with the LIBRA team received 57.6 million USDC and 249671 SOL (about $49.7 million) by increasing liquidity, removing liquidity and charging fees, cashing out a total of about $107 million.

GuShiio.com learned that KIP Protocol tweeted that the Viva la Libertad project was designed to help private companies in Argentina and that LIBRA tokens had some success. In order to address unnecessary issues, we would like to clarify that this is a private enterprise project and that President Mile was not involved in the development of the project, as he himself mentioned. This is a completely private enterprise project. KIP Protocol’s official Twitter account says it is supported by Animoca Ventures and is the official AI partner of Animoca’s Open Campus project. In 2024, KIP Protocol announced the completion of $5 million in private equity financing, led by Animoca Ventures and Tribe Capital, and other investors including GBV Capital,DWF Ventures,Morningstar Ventures.

GuShiio.com learned that Animoca Brands tweeted that Animoca Brands invested in KIP Protocol with many other investors in February 2024, but Animoca Brands, Animoca Ventures, and Open Campus did not understand and participate in the release and development of LIBRA tokens.

GuShiio.com learned that KIP Protocol Co-founder Julian issued a preliminary response to the LIBRA project, saying that the Viva la Libertad project aims to promote Argentina’s economic development by providing funding for small projects and local businesses, and to support those who seek to expand their cause and contribute to the development of the country. The money is still on the chain and no SOL has been transferred. The KIP team is involved in the project and is mainly responsible for managing the allocation of funds to Argentine companies rather than tokens. It is worth noting that the token is not pre-sold and all sales are carried out through unilateral liquidity pools. The KIP team will develop the operation plan of the Libertad project based on the original objectives and promise that no SOL will be used for non-project purposes, all funds will be accounted for transparently, and more details will be provided later.

Reading the original text