KIP Protocol denies involvement in Libra launch

KIP Protocol released a statement on Monday addressing perceptions about their involvement in the Libra cryptocurrency launch. It emphasized that it did not initiate the Libra project or Project Viva La Libertad, nor did it direct any activities or participate in discussions related to the token launch. "We did not direct any activity nor did we participate in any discussions regarding the token launch."

It added that, amid the fallout after the Libra token quickly crashed in value, it became a "convenient party" to provide cover for other parties who initiated and managed the token launch.

In today's statement, KIP Protocol said that its role in the launch consisted of being invited on Feb. 13 by Tech Forum representative Mauricio Novelli to assist in managing a financing initiative for Argentinian SMEs, leveraging their experience in running grant programs and deploying AI infrastructure.

KIP Protocol distances itself from Libra token launch

The statement added that KIP was not involved in the token launch. "The launch was initiated and managed by Hayden Davis / Kelsier by his own admission, with no involvement from KIP," the statement said. "We were not informed in advance of the token sale date or time, and we did not promote the purchase of the token in any way before or after the launch."

Furthermore, KIP Protocol asserted that it did not profit from the token launch, did not receive any tokens or payments, and had no prior or ongoing relationship with President Javier Milei, aside from a single meeting on October 19, 2024.

However, an earlier X.com post from KIP Protocol made on the day of the Libra token's launch celebrated the success of the Libra currency, thanking supporters for their trust.

Today's statement said that after the Libra token's launch, Novelli had asked KIP Protocol to post on X to support the project. "At that time, President Javier Milei’s original post supporting the project was still live, which led to our continued confidence in the project's larger objectives, we thus posted on X in support," KIP Protocol said.