Key Takeaways
- The timing of WOLF’s launch coincided with rumors that Jordan Belfort, famously known as the “Wolf of Wall Street,” was planning to introduce crypto under the same name
- WOLF’s market capitalization surged to $40 million after being promoted within the WallStreetBets (WSB) community
Hayden Davis, already under scrutiny for his involvement in the LIBRA meme coin debacle, has surfaced with another crypto project. Blockchain analytics firm Bubblemaps reported on March 15 that Davis had launched a new token called WOLF, sparking concerns over his continued presence in the crypto market.
The timing of WOLF’s launch coincided with rumors that Jordan Belfort, famously known as the “Wolf of Wall Street,” was planning to introduce a cryptocurrency under the same name. This speculation led to a flood of WOLF-branded tokens entering the market, with Davis’ version quickly gaining traction.
Bubblemaps’ analysis revealed that Davis used the same financial pathways to fund WOLF as he had for his previous tokens, including MELANIA and LIBRA. “Starting with the WOLF creator 6MsuHd, we followed funding transfers back across 17 addresses and five cross-chain transfers. All led to a single address: OxcEAe. The same one owned by Hayden Davis,” the analytics firm reported.
WOLF’s market capitalization surged to $40 million after being promoted within the WallStreetBets (WSB) community, but its value soon plummeted. Within just two days of peaking at $42.9 million on March 8, the token collapsed, dropping to a mere $570,000. Analysts suspect a possible rug pull, as blockchain data indicated that 82% of the token’s supply was held by a small group of wallets, suggesting insider control.
Davis remains under intense scrutiny following the LIBRA token scandal, which became a major political controversy in Argentina. LIBRA’s market value skyrocketed past $4 billion in February after an endorsement from Argentine President Javier Milei.
However, the excitement was short-lived, as the token’s value soon crashed by over 99%. Blockchain investigators found that key insiders had offloaded more than $100 million worth of LIBRA before the collapse. Davis later confirmed his involvement in the project and admitted to launching a token linked to former U.S. First Lady Melania Trump.
Following the LIBRA fallout, Argentine authorities launched an investigation into the token’s collapse, with lawyer Gregorio Dalbon calling for an Interpol Red Notice against Davis. If issued, this could lead to his arrest and possible extradition.
