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2025's Biggest Crypto Scam! [$LIBRA]

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The Brown Gent

4 months ago

Score: 510

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Executive Summary

This video dives deep into the murky waters of crypto scams, particularly focusing on the recent $LIBRA token debacle, which the presenter deems 2025's biggest crypto scam. It pulls back the curtain on insider dealings, influencer deception, and the stark difference between genuine crypto educators and those who exploit their audience for personal gain. The core message is a scathing critique of the "LA Cabal" and similar groups who engage in pump-and-dump schemes, using their followers as "exit liquidity."

Here's the lowdown:

  • Airdrop Alpha vs. Meme Coin Shillers:

    • There's a crucial distinction between people who provide real "airdrop alpha" and those who shill meme coins. Those who give out genuine airdrop strategies (like the presenter, CryptoCove, and KateXBT) are actually helping you onboard new projects and chains, sharing their own strategies transparently. When they do this, they're often reducing their own potential rewards, and if things go wrong, they've even given back referral rewards.
    • On the flip side, meme coin shillers direct you to their platforms, cultivate a cult-like following, and use you as "exit liquidity." This means they pump their bags by convincing you to buy, then dump their pre-loaded tokens on you, leaving you with losses. They tell you it's a "skill issue" if you lose, even though the game is rigged. The presenter is fed up with this "scam game" and wants it to burn to the ground, hoping the "LA Cabal" and their associates get out of the crypto space for good.
  • The $LIBRA Scam Unpacked:

    • The $LIBRA token, linked to Argentinian President Javier Milei, was a significant rug pull. The KIP Protocol, involved in the project, stated that the token launch and market making were handled by Kelser Ventures, specifically by Hayden Davis, who is allegedly connected to the "LA Cabal."
    • Hayden Davis even "undoxxed" himself, announcing intentions to pump the Libra chart again, which the presenter warns against as a clear sign of further manipulation and front-loading.
    • It turns out Kelser Ventures is responsible for two massive "liquidity sucks" in crypto history: $MELANIA and $LIBRA. Both were deployed from the same wallet by "doxxed people living in the U.S.," meaning these aren't anonymous overseas actors, but identifiable individuals.
  • Insider Trading and Influencer Deception:

    • "Scooter" pointed out that these "sick f*cks" (insiders) flaunt their millions while telling their audience to spend 24/7 chasing meme token gains. All the while, they're making back-end deals, trading with insider information, and shilling referral links to squeeze more money from you. They then brag about their "clicks" and claim your losses are due to a "skill issue" when they've rigged the system.
    • Insiders are shown to get contract addresses and launch signals way ahead of the public. One example cited was a streamer who, despite claiming to do due diligence, instantly invested $250,000 in a token after a Telegram DM, confirming the widespread use of insider information.
    • The presenter emphasized that if you win in these schemes, you got extremely lucky because the odds are astronomically stacked against you. "Everyone knew about the Argentina token" (the $LIBRA coin) before it launched, including various "cabals" and even Jupiter, highlighting the prevalence of insider knowledge.
  • Dave Portnoy's Honest Revelation:

    • A surprising and significant revelation came from Dave Portnoy. He recounted being offered 6 million $LIBRA tokens (worth up to $16 million at the peak) as part of a marketing program. However, he was told not to disclose that he had received these tokens for free. Portnoy refused to participate under such deceptive terms and sent the tokens back, proving that these types of undisclosed allocations to influencers are common.
    • This directly contradicts many "large well-known accounts" who claimed to have lost money on $LIBRA, as the presenter believes most of them either received free allocations they then dumped or didn't even buy. These influencers are "blatantly lying" to their audience.
    • The presenter believes that many big crypto influencer accounts on Twitter are "broke" and will do anything for money, including taking undisclosed allocations and dumping on their followers. Some, like Frank Degas, have even openly admitted to being "insiders," implying it's your fault if you're not.
  • Jupiter's Acknowledgment and Complicity:

    • Jupiter, a decentralized exchange (DEX), put out a statement acknowledging that the "meme coin launch game is a dirty game with plenty of ugly behavior."
    • They admitted that some of their team members knew about the Argentinian president's token project two weeks prior, learning directly from Kelser Ventures. While they claimed they were unaware of the specific dealings and didn't receive any tokens, the presenter points out that Jupiter continues to support such launches because they benefit from the fees and want to remain competitive.
    • The presenter even advised his private group to dump Jupiter tokens temporarily as a hedge, anticipating potential negative impacts from further statements, particularly from WearMeow of Jupiter/BD Maxie.
  • Call for Accountability:

    • The presenter calls these scammers "amateur criminals" who are practically handing law enforcement enough evidence to prosecute them. He hopes for actual investigations and for the "LA Cabal" and others to face consequences, including jail time, especially if their ill-gotten gains are confiscated into a "Digital Strategic Reserve."
    • He highlights that platforms like "Pump.Fun" enable vast amounts of liquidity to be extracted from the ecosystem and converted to cash, benefiting those at the top.
    • The presenter expresses frustration that his honest airdrop alpha, which might yield a few thousand dollars, pales in comparison to the "millions" flaunted by scammers, making it hard to attract a following interested in long-term, utility-based projects.
    • It's a stark reality check when "Dave Portnoy is the voice of reason" in the crypto space. The presenter urges people to stop falling for these pump-and-dump schemes and instead focus on "real utility" and "actual projects" that offer genuine value, rather than being exploited by insiders who profit from your losses.

Transcript

Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Or, Brown Jen, you must just be mad because you faded all this. Yeah, I'm mad because I didn't lose money on these shitty coins. I'm sorry. That's just the reality of it, right? Now, because of this, there's a lot of people for the last few weeks to months who've been talking a bunch of smack about people like me, about people like CryptoCove, about people like KateXBT. Those of us who actually provide you with airdrop alpha. Let me distinguish the kind of person I am or the kind of people we are from the kind of trash and the filth you see on CryptoTwitter. Those of us who actually provide you alpha on airdrops, we are helping you onboard onto projects. We are helping you onboard onto chains. We're getting you into protocols. We're explaining to you our strategies. Every single time I do this or they do that, we are taking away from our rewards. Every single person who I share my strategies with, right? Because I'm not giving you fake strategies like other people. When I tell you what I'm doing and I share that openly and honestly and transparently, what happens? Well, I'm getting less airdrops. Oh, yeah. Sometimes I get referral points. But even there, anytime the airdrop backfires, I have given back 100%. With Scroll, I gave 100% of those referral rewards back to the people. I didn't keep any of it, right? And the referral rewards are so miniature and compared to the value that we lose. On the other hand, meme coin shows, what do they do? Well, they send you all the referrals to their platforms, BullX and all sorts of crap. They basically make you trust them so they can squeeze out every single dollar. And they put you into a cult where basically you attack people warning you. Oh, it's not bad that you lost. You just didn't try hard enough. This is a scam game that we have seen time and time again. We've seen this everywhere outside of crypto and it's taken root here. And I'm glad to see this whole thing burning. I want it to burn to the ground and I want the LA Vape Cabal and all their other junkie friends and all the trash people in this ecosystem to be good, like good and gone. Get the hell out of here. Every single one of these people, they show you meme coins. Why? So you can be their exit liquidity. Every single time you buy, it helps their bags. Every time we give you advice, it hurts us. Who are you actually going to trust? Let's just be honest here. So I put some respect on airdrop hunters, at least the ones who help you or the ones who give you real alpha, right? Because we're not pumping our bags. We're actually hurting ourselves. Everybody else makes money off you. In fact, what we're doing is we're giving up our rewards so you guys can get tricked by meme coin shillers who will then end up stealing your money. So we're basically giving our money to meme coin shillers if you think about it in the short term. Now, here is a statement from President Melia. I'm going to sort of go to the translated copy. Basically, you know, on October 19th, he had a meeting with representatives of the KIP protocol. Basically, they told what they wanted to do with a private financial venture. All this to say he was convinced to basically post a tweet with a contract address and basically say over here, hey, guess what, man? It's time to, can you post this tweet, whatever? And when they did, they got destroyed. And by the way, guys, I know you're asking a lot of random questions that are not part of this. Ask me that in the AMA. I'm not going to get to it here, guys. You got to show some respect. I literally post in the AMA for this stuff. Do not ask me bullshit questions about other topics. Like, respect the video that I'm doing, okay, guys? Because I'm not going to answer. I don't want to ignore you guys, but let's just be honest here. Now, Scooter, who I've not really been the biggest fan of in the past, got this spot on. Basically said, these sick fucks flaunted their millions in profits in your face while telling you to sacrifice your time, which I have also told you many times is the most valuable commodity that you have. At some point in your life, you will pay so much money just to get an extra day or an extra week. That's the reality of it. But right now, because we trade our money for time, right, as when we're younger, we're trying to chase gains, right? They want you to chase gains on meme tokens by trenching 24-7. All the while, they make back-end deals and trade with insider information. They also shill reflinks for tools to extract even more money from you. And then they brag about their clicks by adding groups to their bio. They told you it was a skill issue while they rigged it. You don't hate these guys enough. Now, KIP Protocol came out and said, hey, it wasn't us. A lot of misinformation. I love that people use the word misinformation, especially like certain groups of people because they're always lying, right? They're like, oh, you know, the token launch and market making were fully handled by Kelser Ventures, represented by Hayden Davis. You know, friends of L.A. You know, some guy who lives in L.A. Now, this idiot decided, hey, it's not bad enough that I rug people for $100 million. Let me undox myself. Let me go on here, say a bunch of nonsense, which basically says, hey, guys, I'm going to pump the Libra chart. So maybe you want to jump into the Libra chart and I will pump the chart. Basically, guys, if you fall for this again, you deserve to lose because honestly, the moment before this announcement came out, people already front loaded the charts with more tokens. Like they bought in at the lows and they're ready to jump on you again. So if you want to jump in, you want to lose more money, so be it, right? Immediate release. Like he's talking about all the stuff that happened, right? He's proposing to reinvest 100% of the funds. What was interesting that he mentioned was how Meteora and Jupiter and everybody else who was involved and how like, you know, they need to also give back some of the money, right? And we see some other things come into play. Number one, Kelser Ventures are responsible for the two biggest liquidity sucks of all time. Melania and Libra were both deployed from the same wallet. These are all docks people living in the U.S. This is not some mysterious overseas cabal. Now, I want to share something with you guys very quickly, okay? Because there's a ton of stuff going on and I want to share some videos with you just so you're aware of this. So let me just find this video by Jonah, who, by the way, until yesterday was backing up. No, not thread guy, who is probably, you know, allegedly one of the biggest, you know, scam artists on this entire thing, right? Like, I say allegedly because I don't have any actual proof, but let's be honest here. Like, listen to this stuff and just hear it out, okay? It's about a minute. So bad, so bad. See, what happened here, right? I just want you to see this. He got in very early. Why? Because they are insiders. All of these guys, they get told way ahead of you guys. And what ends up happening is they use you guys' exit liquidity, telling you to go out there, click buttons. But these guys couldn't trade anything if they weren't given the signal ahead of time. There was another guy who was on a live stream talking about all the things he does to do due diligence. I don't have the video here. But you know what he did? The literal moment he got a DM on Telegram, he just on stream like a complete amateur, a complete bozo, decides to just put $250,000 into the token doing none of the stuff that he said he does. Why? Because none of them actually do it. Every single one of these guys, the ones who actually make money in the trenches are using insider information. And if you win, you got extremely lucky because you're not supposed to win. This is not a real casino. This is a casino where they tell you your odds are like 6, like, you know, your odds are 10%. Your odds are like not even 1%, like 0.1%, if that. And when you win, you don't make much. The guys who win here are the ones who are pulling the strings behind the scenes, who are getting the contract addresses. In fact, on another stream, NotDreadGuy mentioned that everyone knew about the Argentina token. Well, I didn't know about it, but apparently the cabals did. Even Jupiter knew about it. A lot of people in the industry knew about it. This is why if you are thinking again of, hey, you know what? It's fine. Let me jump into SafeMoon, which happened last night, which also rugged. Listen, guys, I can't keep warning you. If you want to lose all your money, go for it. If you want to give an idiot like this and his friends like Frank Degas and Razmer and FaZe Banks your money, go for it. I'm not going to stop you. That's the reality of it. There's winners and losers in this. Why don't you just hold for real utility? Why don't you buy actual projects? Why are you buying these scams where these guys have already front loaded, ready to dump on you? That's what they do every single time. Do not have any pity for these guys. I cannot wait for there to be actual investigations and for these guys to get the consequences given to them. I'm sick and tired of you guys. Not all of you, obviously, but some people who come in here and always defend them. They don't deserve a single defense. I don't care. Watch this. This is actually crazy. I did not think that Dave Portnoy would be the person to talk about this, but I'm going to give you some context. He and other influencers were given a bunch of tokens ahead of time. So watch this. I told you I had a wild story. So the thing launches and Hayden is like, you're in the ledger. You're in the marketing program that we built for this. And he's like, sends me, uh, was it, I think it was 66, 6, 6 million, 6 million coins, something like that. Maybe 6.5. I forget what it was. And again, I wasn't overly surprised that I got the coins because he told me I was in the plan. So he does that and I'm getting ready to tweet like, Hey, this, this is a great launch. Malay is a great launch. Great launch. Um, Um, get ready to tweet it, this, that, the other thing. And I, I send it to Hayden and I'm like, this is what I'm going to say. I'm proud to be part of this project. I like what he's doing in Argentina. Um, I bought a lot of my own, but they also gave me coins. And he's like, you can't say that they gave that, that we gave you the coins. I'm like, what do you mean? I have to say that. He's like, well, no, then it seems like you're an insider. And this, I think we got confused. Like I knew about it before. Um, whatever the case, they're like, no, you, you can't say that we gave you coins. I'm like, well, I can't accept coins. If you don't fucking let me say you gave me coins and I'm part of the project. So I literally sent the coins back. Can you believe this? Like, here's the thing. I completely believe Dave Portnoy here. Like he has no reason to lie about it. And it actually aligns with a lot of the things that we think happen, right? Like think about how many times we get gaslighted into thinking these kinds of things don't happen. Every single one of these guys, like it's one thing, by the way, Fudge Zero, to buy these things with the thought of getting rich overnight. It is literally impossible with these things. Why? Because it is made impossible. At least with Doge and Shiba Inu, there was actually a potential of doing this. Imagine Shiba Inu where everything is front loaded and everyone who buys just gets dumped on. That is what's happening every single time. All of these guys are cheaters. Every single one of these scumbags deserves to go to jail. Like the fact of the matter is, look at this, by the way. This is also from the space. So basically what happened is they were sending out millions of dollars worth of unlocked tokens to influence with a coin at 4.5 billion FDV and 180 million USDC. So they're wondering why the chart got completely dumped. Meanwhile, large well-known accounts were pushing this trash while dumping their allocations. So all of these guys who were on the timeline talking about their losses, most of them didn't even buy. People like Razmir, people like all these guys, like, you know what I'm saying? They want to pretend, right? Like I don't have no proof, but I'm sure that a lot of these big guys, the ones who were shitting Libra, right? We know who they were. They all got allocations, right? I cannot prove it, right? That's why I say allegedly, right? We don't know exactly what happened. But you guys know, right? Without a smoking gun, we can figure out who got what. And the reality is we don't hate these people enough. Why? Because these projects like Hayden, they use this for marketing. And they know that if they give influencers these tokens, influencers will post this. And when I say influencers, I mean the big accounts. There needs to really be a cleansing. Because I'd say the majority of big influencer accounts on Twitter are broke and they will do anything to take your money. And because of that, when they get these deals, they won't tell you that they got the tokens. They will just dump on you, right? So they'll pretend. Like people will pretend like they lost, right? Look, if Dave Portnoy got 6 million free tokens value to 16 million at the top, he sent them back. Your favorite KOLs also did. They are blatantly lying to our faces like we are stupid. We don't hate them enough. Right? Look, Rasmus posted. Oh, Dave Portnoy got set allocation in Libra. He sent the tokens back. Who else got Aloe? Aloe. I'm like, bro, you did. I'm like, posting this will not save you. Why? Because this guy and his buddies are well known for this stuff. Every time they win, every time that they get in and get out of insider information, they call you stupid. They say it's a skill issue. They say don't cry in the casino. You know what Frank did God said earlier tonight or earlier today? He basically said, yes, I'm an insider. If you're not an insider, then that's your problem. Something to the extent of it. So let's just be honest here. And what I was surprised about, right, was Jupiter, right? Jupiter, there's been a lot of talk about where meow from BD Maxie on Twitter about how where meow has a big role to play in Libra. So Jupiter put out an announcement right now and they're going to say something or where meow is going to have a statement very soon. Just something to keep in mind. I let my private group know, by the way, when Jupiter was like 92, 93 cents to basically dump Jupiter as a hedge just temporarily until we saw what happened. I believe it's 87 cents right now. If where meow says something, this thing could completely tank the wrong way. I hope it, I really hope it's not true. Let's be honest. So Jupiter says since the start, they placed a massive premium on transparency. The meme coin launch game is a dirty game with plenty of ugly behavior. You know what's funny? They say all these things, but they don't do anything about it. Why? Because they want the money, right? It's just like, hey, they're watching it happen saying we want a piece. I'm not hating on them for it because I know they're a business, but that's the reality of it, right? Jupiter is a DEX. They want their share of the fees, right? And they want to be competitive in this space. Who cares about it being a dirty game? So basically, a few members of Jupiter team knew that there will be at some point a token project associated with Argentinian president Javier Millet. We learned of this two weeks ago directly from Kelser Ventures. While we were initially unsure, we then saw credible evidence in the form of public tweets from his personal account that he was serious. That was the full extent of our knowledge. We were completely unaware of the dealings between the principals, etc. And it was an open secret in meme coin circles, i.e. cabals, that an Argentina coin was going to launch at some point as evidenced by the many public tweets. But in keeping our ethos of confidentiality, we did not speak about it with anyone at all, online or offline. Further, no one on the team received any Libra tokens or related compensation at any time. The reality is, you know, say we go through all this stuff. They don't have to. They verified it. And obviously, I'm not blaming them because there was a lot of Libra tokens out at the time. So they wanted people to know what the real one was, right? That's the whole idea. But let's just be honest here. This is a dirty game. They know it. And they want their share of what's going. You know what I'm saying? They really want their share of the fees. So WearMeow will issue a more detailed statement later today. We'll see how that goes. Obviously, like they say, we don't condone it. But we want to profit off it. So we will continue to support it. Which, like I said, I'm not blaming them. So guys, I just want you to take this one thing away over here. All of these guys are lying. The big influencers who tell you that they basically did not or that they lost, they got an allocation, right? So, you know, I don't know, but it's got it right. They're all engagement farming, right? Like, literally, Threadguy is such an idiot. He muted the stream in the video I showed you because he didn't want more details coming out. That's why he had to get the guy to shut up. I don't even know why you answer a call on your stream. These guys are amateur criminals. Like, good criminals know how to hide stuff. These guys are idiots. Like, actual idiots. You think they are outsmarting you in the trenches? These guys have sub-50 IQ. Literally sub-50 IQ. These guys, like, they're giving the law agencies enough evidence when this stuff comes out to just get them in trouble, right? Like, that's just so dumb. Like, absolutely absurd. Yeah, Rasmur, Frankie, all of these guys made so much dollars off it. And then they want to pretend like they're not the scammers or they're not the ones who had inside information. It's been proven. These guys are pathetic. Honestly, the reality is they're – like, honestly, I hope they don't drop the soap. Like, you should see the amount of things that are going out on Polymarket, people trying to create, like, markets to off people and betting on that stuff and violent attacks and whatever. It is really, really bad. But I'm not going to lie. I do not blame people for being very upset with the LA cabal. It makes it very hard for people like me, CryptoCove, and others to build followings when – is it fun to make a couple thousand dollars every single day when people flaunt making millions? Of course. Of course it is. No one's going to want to make a couple hundred or a couple thousand dollars a week or a month. People aren't interested in that. Why? Because these scumbags show you they can make millions, right? And, Mike, I do agree that Jupiter is the best thing going. But guess what? The reality is that when this stuff happens, this is horrible for the entire space. And I appreciate what you're saying about, you know, trying to give back by sharing alpha and everything. A lot of people are just not patient of it. And, yeah, you do know it's bad when Dave Fortnoy is the voice of reason. It is so bad. But we're going to talk about all of that and more in the AMA. So I want to thank you guys for watching. I'll be on in about three minutes. And while I would love a collab episode with CoffeeZilla, I don't think I'm big enough for him to sort of do that. But, hey, I'm always open to it. I've been watching him since he was like 10,000 subscribers. So that would be pretty cool. Got Luna vibes? Yeah, I mean, look, honestly, I don't think it's the end for Solana. But obviously these things don't help. But here's the one thing I want you to take away. Why is it that none of these guys called up any other scams? But when they lose, that's when they start crying. All these guys who say don't cry in the casino, when you say that to them now, they're like, you're retarded, man. The casino's on fire. No, bro. You're like these people literally want to have a feature to take money from everyone and put it in their pockets. If they didn't, they wouldn't be okay with stuff like Pump.Fun, which extracts the most amount of liquidity from our ecosystem, sells it, sells Solana, and puts it into cash. That's what these guys do. They take people buying sold. Nope. You use Pump.Fun. They use all the fees, sell it, and no one who's making a decent amount would be okay with it unless they were making bundles. And that's what's going on. These guys are making bundles and bundles and bundles. And hopefully we saw what happened with the U.S., the Digital Strategic Reserve. When those funds get confiscated, they're going to go there. They're going to go to the Digital Strategic Reserve. And I really hope to see the L.A. cabal and a bunch of others in jail for all the stuff they've done if, in fact, they were doing all this stuff all along. Obviously, it's all alleged right now. Remember, nothing I say is financial advice. I'm just a guy on YouTube seeing what's going on Twitter. Make sure you hit the like button, and I'll be back in two minutes for the AMA. Bye. Bye.

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