On 16 Feb 2025, the President Javier Milei of the Argentine Republic released a statement (the “Statement”) in relation to the ‘Viva La Libertad’ Project (the “Project”). The Statement contains several material factual inaccuracies which we wish to correct to ensure that the facts are properly reflected in the public record.
Factual Inaccuracy No. 1:
Original Spanish Text:
La Oficina del Presidente informa que el pasado 19 de octubre el Presidente Javier Milei mantuvo un encuentro con los representantes de KIP Protocol en Argentina en el que se le comentó la intención de la empresa de desarrollar un proyecto llamado “Viva la Libertad” para financiar emprendimientos privados en la República Argentina utilizando tecnología blockchain.
De ese encuentro, que fue debidamente asentado en el Registro de Audiencias Públicas, participaron el Presidente de la Nación; los representantes de la empresa KIP Protocol, Mauricio Novellli y Julian Peh; y el vocero presidencial, Manuel Adorni.
English Translation:
The Office of the President reports that on October 19, President Javier Milei held a meeting with representatives of KIP Protocol in Argentina, where he was informed of the company's intention to develop a project called "Viva la Libertad" to finance private ventures in the Argentine Republic using blockchain technology.
The President of the Nation, representatives of the company KIP Protocol, Mauricio Novellli and Julian Peh, and the presidential spokesman, Manuel Adorni, participated in this meeting, which was duly recorded in the Public Hearings Registry.
KIP Protocol’s CEO, Mr Julian Peh, did meet with President Milei on 19 October 2024 in Argentina on the sidelines of the inaugural Tech Forum Argentina trade show (“Tech Forum”).
KIP Protocol was an official sponsor of Tech Forum and Mr Peh was introduced to President Milei by Mr Mauricio Novelli, the organiser of Tech Forum. At no time was Mr Novelli a part of KIP Protocol; nor did Mr Peh introduce Mr Novelli to President Milei as being part of KIP Protocol.
Mr Peh spoke with President Milei, through a translator, for about 30 minutes. They spoke about AI, technology in general and KIP Protocol’s desire to do more business in and to invest in Argentina. President Milei spoke of his vision for Argentina, his economic philosophies and how he was welcoming of foreign investment into Argentina especially by AI companies.
This was Mr Peh’s first meeting with President Milei. There was no discussion or mention of any specific initiatives including the project (“Viva la Libertad") and launching any tokens. KIP Protocol is not in the business of helping organizations launch tokens. We are a technical AI company focused on deploying AI solutions, it is what our business centers around and it would be unusual to be pitching anything else.
Factual Inaccuracy No. 2:
Original Spanish Text:
En ese marco, el 30 de enero de 2025, el Presidente mantuvo una reunión en Casa Rosada con Hayden Mark Davis, quien, de acuerdo a lo expresado por los representantes de KIP Protocol, proveería la infraestructura tecnológica para su proyecto. El Sr. Davis no tuvo ni tiene ninguna vinculación con el gobierno argentino y fue presentado por los representantes de KIP Protocol como uno de sus socios en el proyecto.
English Translation:
“In this context, on January 30, 2025, the President held a meeting at Casa Rosada with Hayden Mark Davis, who, according to the KIP Protocol representatives, would provide the technological infrastructure for his project. Mr. Davis had no and does not have any connection with the Argentine government and was presented by the KIP Protocol representatives as one of their partners in the project.
KIP Protocol had no knowledge of, or involvement in, this meeting of 30 January 2025. KIP Protocol certainly did not have any representatives present at this meeting.
The meeting on 19 October 2024 was the only occasion on which Mr Peh or any KIP employee have met with President Milei. Nor have Mr Peh or any other employee of KIP Protocol remained in contact with President Milei.
KIP had no business dealings with Hayden Mark Davis (“Davis”) before this. At no time did Mr Peh or any other employee of KIP Protocol make any representations about Davis being a partner of KIP or any other representations about Davis. At no time was Davis a employee or representative of KIP Protocol.
Factual Inaccuracy #3:
Original Spanish Text:
Finalmente, en el día de ayer, el Presidente compartió una publicación en sus cuentas personales comunicando el lanzamiento del proyecto de KIP Protocol, al igual que lo hace cotidianamente con muchos emprendedores que quieren lanzar un proyecto en Argentina para crear empleo y conseguir inversiones. No habiendo sido parte en ninguna instancia del desarrollo de la criptomoneda, luego de las repercusiones que el lanzamiento del proyecto tuvo y para evitar cualquier especulación y no darle mayor difusión, decidió eliminar la publicación.
English Translation:
Finally, yesterday, the President shared a post on his personal accounts announcing the launch of the KIP Protocol project, just as he does daily with many entrepreneurs who want to launch a project in Argentina to create jobs and get investments. Not having been part of any stage of the development of the cryptocurrency, after the repercussions that the launch of the project had and to avoid any speculation and not give it further dissemination, he decided to delete the post.
As stated above, the only time that Mr Peh had met President Milei was on 19 October 2024 as the only KIP Protocol representative present. There was no mention or discussion of the Project at that meeting. KIP Protocol was not part of any meeting with President Milei on 30 January 2025.
Mr Peh was informed by Mr Novelli on or around 13 February 2025 about the launch of a token project that would eventually become the Project.
Mr Peh was informed that Hayden / Kelsier Ventures would be the lead on the Project, and they would launch the token and that KIP Protocol would play a role after the token had been launched.
It was also an agreed term that KIP Protocol would act only on direct instructions from Kelsier.
KIP did not initiate the project, it did not manage or direct the token launch process, and it did not receive any tokens pre or post launch, and it did not profit from the token launch.
It is thus wrong to describe it as a ‘KIP Protocol project’.
