TechFlow reports on February 16, Kelsier released an announcement and clarification video regarding the latest developments of the Libra token launch. He stated: "As a launch advisor for the Libra Token project, I would like to clarify key aspects of the launch and address recent developments concerning Javier Milei's initial involvement and subsequent withdrawal of support. Javier Milei initially supported and actively promoted Libra Token on social media platforms including X and Instagram. His colleagues conveyed his public endorsement at launch and assured me he would continue receiving support throughout the launch process. Given my role as advisor, my primary responsibility was to ensure the token had sufficient volume, liquidity, and strong financial backing to support its price and realize the project’s vision. However, as an advisor, there were many factors beyond my control."
"Despite prior commitments, Milei and his team unexpectedly changed their position, withdrew support, and deleted all previous social media endorsements. This sudden decision was made without any prior warning and directly contradicted earlier assurances. To my surprise, Milei later issued a statement claiming his exit was due to alleged misconduct by individuals supporting the project, calling them fraudsters. I firmly reject this claim and want to emphasize that Julian Peh, founder of KlP Network and principal sponsor of Libra Token, is completely innocent. I can only assume Milei's associates are attempting to shift blame onto Julian to evade accountability."
"It is crucial to recognize that memecoin investments are driven by trust and endorsement. When Milei and his team removed their posts, investors who purchased the token based on trust in his endorsement felt betrayed. This triggered a wave of panic selling, further exacerbating the situation. The sudden loss of confidence had a catastrophic impact on the token’s market stability."
"Regarding my responsibilities, I was tasked with securing liquidity for the project and still retain control over all associated fees and funds. I want to make it clear that I have not and will not use these funds for personal gain. As custodian—not owner—of these funds, I am unwilling to transfer them to Milei’s associates or the KlP team. Instead, after consulting experts, I propose reinvesting 100% of the funds under my control (up to $100 million) back into Libra Token and burning all purchased supply. Unless a more viable alternative is presented, I intend to begin executing this plan within the next 48 hours. I remain committed to transparency and will continue providing updates as the situation evolves."
