LIBRA — THE BIGGEST RUG ON SOLANA
A scandal involving the president, crypto companies, and many renowned influencers with inside information.
All of Twitter is in chaos after the $LIBRA rug pull, with many still investigating and uncovering more details.
Two companies are involved in the rug: KIP Protocol, which points to Kelsier Ventures. The CEO of Kelsier Ventures appeared (source) in a Power Rangers costume with a bulletproof vest under his clothes and admitted to a ~$100M fraud. He then proposed to buy back $100M worth of tokens and burn the entire supply. The price reacted, pumping from $150M to $450M (another insider profit opportunity?). But this is just a PUMP n DUMP, offering no relief to those who already took losses. According to his statement, he is searching for "the best solution to clear his name" (and walk away with clean millions).
Kelsier Ventures is also allegedly involved in launching $M3M3, $MELANIA, and other meme coins.
The CEO claims to be an advisor to the president, but the president himself denied this in a now-deleted post, raising even more suspicion.
The Ideal Solution?
A snapshot of negative PNL before the president’s post was deleted and a partial refund through a claims process. Full reimbursement is unlikely due to insider dumping, but some compensation is better than nothing.
All these influencers shilling shitcoins preach 24/7 “locked in” mentality, flaunting their multi-million-dollar PNLs on KolScan and selling the dream that you can do the same. "I won at the casino, so you can too" — but facing insiders in a PvP arena is nearly impossible. In the end, only the cabals profit.
Dave Portnoy’s AMA Bombshell:
Dave Portnoy, the creator of the $JAILSTOOL meme and a major X influencer, revealed on an AMA that he was offered 6 million tokens ($30M at peak) to shill $LIBRA but declined because he couldn’t disclose it was a paid promo via free tokens. He knew about the launch a week in advance. Now, all of X demands a full list of such "influencers."
Cabal Exposure:
Influencer Threadguy from the largest cabal, La Vape Cabal, admitted (source) they had prior knowledge of the token launch. Frank DeGods got in extremely early and sold at the peak—then closed his wallet today.
In a leaked stream (source) between Threadguy and Banks, Threadguy muted his mic while talking to Banks during the $LIBRA launch. Lip-reading made it clear what was said. His supposed $250k loss and emotionless reaction were just a LARP—he likely bought early on insider info or received free tokens. Insider Compilation.
The Real Problem:
These influencers bait the crowd with “lock in, dude” speeches while benefiting from free tokens and insider knowledge. If you lose, it’s a “skill issue.”
After the rug, they’ll post on X:
"Losses happen, guys. Stay motivated, don't leave the screen. Tune into my stream in a few hours, and let’s catch the next daily runner together."
The Solana empire is cracking.
Jupiter's Role:
When Jupiter approved $LIBRA with their verification badge, many aped in, confident it wasn’t a scam. Jupiter claimed they knew about the project two weeks prior via Kelsier Ventures but did not buy (sure, we believe you). Only Meow and Ben (CEO of Jupiter/Meteora) knew the exact launch date and time. Meow is scheduled to release a statement tomorrow. Will they spill the full story or more half-truths? Considering their 90,000-character explanation, they might be deeper in this than they claim.
Impact on Solana:
The $LIBRA rug could deal a heavy blow to the entire Solana ecosystem. People underestimate the scale—this is a global-level scam involving state actors and presidential accounts. With PVE runners nowhere in sight, trading volumes have already dropped back to December lows.
Legal Fallout:
Multiple law firms are filing major lawsuits, hoping for success (I’m joining their effort). The team, doxxed from the US, and the founder’s open admission of fraud could lead to the first-ever scenario where raggers face jail time and partial funds are recovered.
Not holding my breath, though—I’ve accepted my losses. And now the opposition is pushing for the president’s impeachment.
