KIP Protocol Denies Role in $LIBRA Launch as Market Turmoil Grows

KIP Protocol's Clarification: KIP Protocol denied any involvement in the $LIBRA token launch, emphasizing its role was limited to overseeing tech projects post-launch and not related to token sales or liquidity management, which were handled by Kelsier Ventures.

Concerns Over $LIBRA's Structure: Onchain data revealed that 50% of $LIBRA's supply was held in one wallet and 82% was unlocked, raising fears of market manipulation, while political ties led to increased scrutiny and speculation about the project's legitimacy.