Part 3/10:
As the main strategist responsible for Libra's launch, Davis confirmed he was sitting on nearly $100 million in liquidity, which was now a substantial burden on his shoulders. He stated that the intent behind holding this amount was to determine the best path forward for disbursing the funds and mitigating investor losses.
Davis described the chaotic launch environment of the memecoin, emphasizing the role of 'snipers'—individuals who misuse their expertise to manipulate market movements for profit—during the initial phase. In his candid dialogue, he reported that the launch saw significant opportunities for exploitation with key players managing large sums of capital that could crush the value of Libra with sudden sell-offs.