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What happened to Kelsier’s $300M crypto stash?
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Oct 05, 2026
LIBRA-linked wallets tied to Kelsier Ventures have fallen from nearly $300 million in tracked holdings in February 2025 to about $2 million, according to blockchain analytics firm Arkham.
Arkham said on Oct. 5 that it had identified more than 1,000 addresses belonging to Kelsier Ventures and Hayden Davis when it first published the wallet cluster in February 2025.
At the time, the addresses held close to $300 million, with most of the value coming from LIBRA tokens. Arkham now puts the remaining value across the tracked cluster at approximately $2 million.
The change in wallet value does not by itself show where the difference went. Token prices, transfers between addresses, sales, liquidity movements and changes in Arkham’s tracked holdings can all affect an entity balance. Arkham’s Oct. 5 post did not provide a transaction-by-transaction breakdown explaining the decline.
Kelsier’s LIBRA wallets once held nearly $300 million
Arkham first reported the Kelsier wallet cluster on Feb. 19, 2025, five days after LIBRA launched.
Its original analysis divided the identified addresses between a LIBRA entity containing wallets tied to the token and a separate Kelsier Ventures entity for addresses not directly associated with the project.
Across both groups, Arkham valued the holdings at nearly $300 million. Most of the amount consisted of LIBRA, while approximately $100 million was held in USDC and SOL that Arkham said had been removed from LIBRA liquidity pools.
Arkham described itself at the time as the first blockchain analytics service to publish the full set of more than 1,000 linked addresses.
The company identified Davis as the person behind Kelsier Ventures. A recent U.S. federal court opinion describes Kelsier Labs LLC, doing business as Kelsier Ventures, as a family-run firm incorporated under Texas law in 2021, with Hayden Davis serving as chief executive.
LIBRA launched on Solana on Feb. 14, 2025. Argentine President Javier Milei posted the token contract and promoted the accompanying Viva La Libertad project shortly after launch, according to the subsequent federal court record.
Investor demand pushed the token sharply higher before its price collapsed within hours. Milei later removed his post and said he had not been aware of the project’s details.
As previously reported, LIBRA reached a multibillion-dollar valuation before collapsing shortly after Milei’s post. Davis later acknowledged that he controlled funds connected to the project while denying that LIBRA was intended as a scam.
U.S. LIBRA lawsuit was dismissed days before Arkham update
Arkham’s latest wallet disclosure comes less than a week after a major U.S. civil case involving Kelsier Ventures ended.
U.S. District Judge Jennifer L. Rochon ruled on Sept. 29 that the amended investor complaint against Kelsier, Davis family members, former Meteora CEO Benjamin Chow and other defendants could not proceed.
The case, Hurlock v. Kelsier Ventures, had accused the defendants of fraud, conspiracy, violations of the Racketeer Influenced and Corrupt Organizations Act, New York consumer law violations and unjust enrichment.
For Kelsier and the Davis defendants, the judge dismissed the RICO counts for failure to state a claim. Other claims against them were dismissed because the court found it lacked personal jurisdiction.
Claims against Chow were dismissed for failure to state a claim, while Dynamic Labs secured dismissal of claims brought against Meteora.
Rochon denied the plaintiffs’ request to file a second amended complaint and dismissed the case with prejudice, directing the clerk to close it. LIBRA class action was dismissed after the court rejected the plaintiffs’ RICO and fraud theories.
The ruling did not amount to a judicial finding that every disputed event around LIBRA’s launch did or did not happen. The court decided whether the plaintiffs’ allegations met the legal and jurisdictional requirements needed for their claims to continue.
The original class action had been filed in New York state court in March 2025 before being removed to federal court in May.
Sources >> What happened to Kelsier’s $300M crypto stash?
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