A year after Bubblemaps first detailed the on-chain mechanics behind the LIBRA meme coin collapse, the blockchain analytics firm has released a new update tracking the renewed trading activity of the project creator Hayden Davis.
This time, it has highlighted significant trading losses rather than insider gains.
From Insider Wins to Meme Coin Losses
According to Bubblemaps’ latest findings, Davis has resumed on-chain activity after a period of wallet inactivity, but is now down roughly $3 million after trading multiple Solana-based meme coins, such as PUMP, TROVE, and PENGUIN.
The update stated that Davis had largely disappeared from on-chain trading following Bubblemaps’ August 2025 investigation, which showed he had made millions by sniping the hip-hop star Kanye West’s YZY token shortly after launch. After those profits, the wallets linked to him went dormant.
However, Bubblemaps reports that new wallets within the same cluster have become active again this year. In fact, over the past 30 days, the firm identified several large transfers into a deposit address linked to Davis, labeled CPGZ1i, which ultimately led to six active wallets under the same cluster.
Transaction analysis further indicated that Davis was trading as recently as five days ago and focused primarily on trending Solana meme coins. Unlike previous episodes, the majority of these trades were unprofitable. Bubblemaps estimated losses of approximately $2.5 million on PUMP, $100,000 on PENGUIN, $29,000 on KABUTO, and smaller losses on tokens such as LOUD and BAGWORK.
LIBRA Fallout Didn’t End It
The findings show Davis did not exit the market following the LIBRA collapse, which had previously been linked to over $100 million in insider profits, according to Bubblemaps’ report published exactly a year earlier. That earlier investigation mapped a network of wallets connected to LIBRA and MELANIA token launches, and demonstrated coordinated sniping activity, cross-chain fund transfers, and quick cash-outs tied to addresses associated with Davis and related entities.
On Monday’s update, Bubblemaps observed that instead of disappearing, Davis’ financial position evolved in other ways. For instance, a judge unfroze $57 million of his assets, he continued to generate profits through opportunistic trades such as YZY, and he received a sizable MET airdrop. The latest data now shows Davis engaging in routine on-chain trading activity again.
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