Kelsier Ventures crypto holdings plummet from $300M to $2M
Blockchain analytics firm Arkham has revealed a dramatic decline in the value of wallets linked to Kelsier Ventures and Hayden Davis. In February 2025, these wallets held nearly $300 million, primarily in LIBRA tokens, along with USDC and SOL. By October 2026, the value had plummeted to just $2 million, though Arkham did not provide a detailed breakdown of the decline.
The drop comes amid significant legal developments. A U.S. judge dismissed a class-action lawsuit against Kelsier Ventures and related defendants on September 29, 2026, ending the civil case. However, separate criminal proceedings in Argentina continue, focusing on potential fraud and other charges related to LIBRA.
Arkham initially identified over 1,000 addresses tied to Kelsier Ventures in February 2025. The firm noted that most of the original wallet value came from LIBRA tokens, with additional holdings in USDC and SOL extracted from liquidity pools. The current $2 million figure reflects a substantial reduction from the previously tracked holdings.
The case has seen various legal maneuvers, including the freezing of $57 million in USDC by Circle in May 2025, following a court order. The U.S. court later lifted asset restraints, but the Argentine investigation remains active, with prosecutors examining evidence and frozen digital assets.