Hayden Davis, known for creating the LIBRA meme coin, has been tied to wallets that earned about $12 million trading YZY, a token linked to Ye, formerly known as Kanye West.
Bubblemaps, a blockchain analytics company, stated in a post on X that Davis controlled a network of 44 wallets that bought YZY around one minute after the official announcement. These wallets invested $2.8 million and later gained $12 million.
The firm noted that several of the wallets received new deposits from centralized exchanges the day before YZY was revealed.
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YZY was already on-chain for two days before Ye’s team confirmed which contract was the official one. To prevent instant accumulation, the project deployed 25 different contracts and randomly chose one to be the valid version.
Still, Davis-linked wallets moved in about sixty seconds after the reveal, not at the initial contract launch.
In total, around $2.8 million was deployed into YZY, which later generated profits of about $12 million. Bubblemaps pointed out that both the speed of the buys and the prior funding of the wallets suggest the group was prepared in advance.
The timing raised further questions because YZY’s launch followed after a Manhattan judge unfroze $57.6 million in USDC
$0.9968
tied to Davis and Ben Chow, founder of the decentralized exchange Meteora. While those balances remain untouched, where $13.06 million and $44.59 million still sit in the two large wallets, the overlap with YZY’s launch was enough to draw suspicion.
The recent launch of YZY became a payday for 13 traders. How much did they make? Read the full story.
