Arkham Data Shows Kelsier Ventures Wallets Drop From $300 Million to $2 Million
On-chain data from Arkham Intelligence reveals that over 1,000 wallets linked to Kelsier Ventures have seen their holdings plummet from nearly $300 million to $2 million.
Arkham Intelligence has tracked a massive decline in the value of wallets associated with Kelsier Ventures, the firm led by Hayden Davis. The entity, which was central to the LIBRA memecoin project, saw its holdings drop from nearly $300 million in February 2025 to approximately $2 million today.
The firm, which was registered in Delaware in 2021, involved Hayden Davis alongside his father, Tom Davis, and brother, Gideon Davis. While Kelsier Ventures marketed itself as a Web3 venture capital firm, it functioned primarily as a market maker and token launcher. The firm gained significant attention for its role in the LIBRA memecoin, which was promoted by Argentine President Javier Milei.
When Arkham first tagged the addresses in February 2025, the $300 million valuation was largely tied to the LIBRA token. A portion of that total, roughly $100 million, consisted of USDC and SOL that had been removed from liquidity pools during the token's launch. The LIBRA token eventually saw its market cap reach the billions before crashing by approximately 95% amid allegations of insider trading and liquidity extraction.
Following the collapse of the token, Kelsier Ventures faced a class-action lawsuit that included fraud and RICO allegations. In October 2026, Judge Jennifer L. Rochon of the Southern District of New York dismissed the case, rejecting the fraud and racketeering claims.
The situation highlights the capabilities of blockchain analytics, as Arkham continues to monitor the approximately 1,200 addresses linked to the firm. While the data provides transparency into the current location of the remaining funds, it does not offer a path for investor recovery, especially following the court's dismissal of the lawsuit.
Traders and investigators are now watching to see if the remaining $2 million in the tagged wallets moves. The LIBRA episode remains a point of interest for policymakers regarding disclosure rules for firms that operate as market makers while presenting themselves as venture capital entities.
