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The story began at the Tech Forum Argentina event in October 2024, where tech entrepreneurs gathered to discuss innovative projects. It was during this event that Milei met Hayden Davis, an American national tied to a crypto company called Kelir Ventures. Davis pitched the idea of Libra, a cryptocurrency designed in alignment with Milei's libertarian ideals, aimed at boosting Argentina's economic landscape through funding for entrepreneurs.
At its core, Libra purports to play the role of a venture capital firm financed by cryptocurrency, offering crucial funding to those who traditionally lack access to financing. The project was jointly developed by Kelir Ventures and Kip Protocol, a Singapore-based firm.