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Was bound to happen, LIBRA is the most stupid scam attempt ever and I am sure he barely made any money from it anyways.
tldr; Argentina's Congress approved a probe into officials over the LIBRA crypto scandal, which has troubled President Javier Milei's administration. The scandal involves the promotion of a Solana-based meme coin that crashed after reaching a $4.5 billion market cap, causing $250 million in losses for 75,000 investors. The investigation will summon key officials and request government information. This marks Milei's second crypto controversy, following a 2022 lawsuit over promoting CoinX, a failed investment platform. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
President Javier Milei's disapproval rate has reached nearly 60% following the LIBRA scandal, significantly affecting his public image and triggering political turmoil, including potential impeachment proceedings. Polling data indicates that a large portion of the Argentine populace perceives a crisis of trust in Milei's administration, raising concerns about his handling of the country's economic issues alongside the fallout from the scandal. * [Argentine poll suggests 57% don't trust President Milei after LIBRA ...](https://cointelegraph.com/news/57-percent-argentines-dont-trust-president-javier-milei-after-libra) * [Javier Milei disapproval rate hits 60% in Argentina after LIBRA scandal](https://protos.com/javier-milei-disapproval-rate-hits-60-in-argentina-after-libra-scandal/) ^(This is a bot made by [Critique AI](https://critique-labs.ai). If you want vetted information like this on all content you browse, [download our extension](https://critiquebrowser.app).)
This connection could have significant implications for both LIBRA and WOLF investors.
tldr; Blockchain analytics firm Bubblemaps has linked fugitive Hayden Davis, wanted by Interpol for his role in the LIBRA project, to a new cryptocurrency called WOLF. Investigations revealed similarities between WOLF and a previous token, HOOD, tied to Davis. Evidence suggests Davis used multiple wallets to manipulate WOLF's launch, leading to a market cap surge of $40 million before a suspected rug pull. Funds were traced to addresses connected to Davis, indicating efforts to obscure his involvement in the scheme. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
tldr; Hayden Davis, linked to controversial cryptocurrency launches like LIBRA and MELANIA, has introduced a new token called WOLF despite being under an Interpol notice. Blockchain analytics firm Bubblemaps and YouTuber Coffeezilla traced fund transfers to confirm Davis's involvement. WOLF, promoted by WallStreetBets, reached a $40M market cap before collapsing in a suspected 'rug pull.' Investigators revealed Davis controlled 82% of the token's supply and had prepared for the launch months in advance. Legal scrutiny continues as authorities pursue international action against him. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
>Hayden Davis, the alleged mastermind behind the controversial LIBRA and MELANIA token launches, has created a new cryptocurrency called WOLF. > This is a token that appeared to be associated with Jordan Belfort, a former stockbroker who inspired the Martin Scorsese film “The Wolf of Wall Street.” What audacity! I hope he gets caught soon!
The Treanor Law Firm is conducting an investigation of #memecoin $LIBRA. The firm is led by a former federal prosecutor and big firm practice group leader. If you lost money or have relevant information, please contact the firm at [info@treanor-law.com](mailto:info@treanor-law.com) . This is attorney advertising.
Anyone telling you that MELANIA TRUMP and LIBRA are fair launches is factually right of course... Memes were made to stop the VC grifters but the grifters started to make memes so good luck with your emems and may the odds be ever in your favor.
This could impact LIBRA's credibility and market trust. Any official statement from the team?
>Davis was a crypto advisor to Argentine President Javier Milley and reportedly made over $100 million trading LIBRA through his firm Kelsier Ventures. It seems completely legal.
tldr; LIBRA co-creator Hayden Davis has reportedly cashed out over $1.6 million in funds linked to trading the cryptocurrency, according to crypto analyst 'dethective.' Transactions show Davis converting funds from LIBRA and other alleged scams into USDC. Davis, a former crypto advisor to Argentina’s president Javier Milei, allegedly profited over $100 million through his firm Kelsier Ventures. LIBRA's promotion and subsequent crash led to significant investor losses, corruption investigations, and political fallout in Argentina. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
TRUMP and LIBRA were the local top. Whether we commence the bull market entirely depends on all these degens finally going for utility over memes.
This could have significant implications for the future of the LIBRA token and its adoption.
tldr; Argentina has filed an Interpol Red Notice for Hayden Davis, creator of the LIBRA token, amid allegations of market manipulation and investor losses totaling $251 million. Blockchain investigators revealed insider trading and fraudulent practices linked to Davis and others. The scandal has caused significant investor losses and legal repercussions, with ripple effects across the crypto industry, including high-profile resignations. If approved, Davis will be flagged as wanted in 195 countries for extradition. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
tldr; Argentine Federal Prosecutor Eduardo Taiano is investigating the $LIBRA cryptocurrency scandal, which allegedly involves President Javier Milei and others. The scandal saw $110 million accumulated before the token's value crashed by 90% due to insider-related withdrawals. Authorities are tracking transactions, freezing assets, and collaborating internationally to investigate potential money laundering. The case, dubbed 'Libragate,' has led to calls for Milei's impeachment, though some speculate it could be a political setup. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
It also taught others to rug pull….LIBRA, CRA, and 99.99999999% of any meme coin created. ANYTHING and EVERYTHING tRump touches he does to only benefit himself and his cronies and then turns to shit. I knit the hopium is alive, but the tRump coin sucked 40 billon out of the other markets and effectively ended any bull run. Now the whales and insiders are manipulating the markets (like the always have), but are using tRump’s tweets and summits to do it in the open. DCA, HOLD, and wait for him to die and go away….
TRUMP, MELANIA, kings families Memecoins, LIBRA, Congress member memecoins, pump/dumps based on some mumbojumbo orange guy is saying
tldr; Memecoins have seen a significant decline in interest and market activity, according to CoinGecko founder Bobby Ong. Following the Libra (LIBRA) rug pull, metrics for token launchpad Pump.fun dropped over 90%, and memecoin market capitalization fell from $124 billion in December to $54 billion. Ong attributes the decline to insider profiteering and seasonal trends but notes that some memecoins like DOGE and SHIB have endured market cycles. Analysts suggest the market is shifting focus back to Bitcoin, Ether, and other altcoins. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
tldr; Celebrity-backed meme coins have surged in popularity, driven by cultural trends, speculation, and endorsements from figures like Elon Musk and Donald Trump. These coins often attract attention due to their viral appeal and accessibility but lack long-term viability without community engagement or utility. Experts warn of risks like pump-and-dump schemes and fraud, as seen with tokens like LIBRA. While some coins like Dogecoin succeed through grassroots support, most celebrity tokens fail to sustain value, posing significant risks to inexperienced investors. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Trump litterally at this point rugged $TRUMP $MELANIE $LIBRA and lets some ginger and president take the fall for it while his WLF portfolio went from 200m to 500m back to 200m lol
tldr; Argentine President Javier Milei is embroiled in a crypto controversy after endorsing the LIBRA token on social media, causing its value to surge before a rapid collapse. Critics allege the incident resembles a 'rug pull' scam, with over 40,000 investors losing more than $4 billion. Milei faces lawsuits and investigations for potential fraud and market manipulation. While he denies wrongdoing, the scandal has raised concerns about political figures influencing volatile crypto markets and could damage his credibility ahead of Argentina's 2025 elections. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
tldr; Since the launch of Donald Trump's memecoin, TRUMP, on Jan. 18, several world leaders have been implicated in memecoin scandals. Argentine President Javier Milei faced backlash over the LIBRA token, which caused $251 million in losses for investors. Central African Republic President Faustin-Archange Touadéra's CAR token faced legitimacy issues, while Bermuda Premier David Burt and Saudi Crown Prince Mohammed bin Salman were impersonated in scams. Malaysia's former PM and Cuba's government also faced crypto-related hacks. The memecoin craze appears to be slowing down. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
>Since US President Donald Trump launched his signature memecoin, TRUMP, on January 18, at least five senior politicians have been implicated in fake or improper token launches – a worrying number in just one month. >Of particular note is the involvement of Argentine President Javier Milley in the LIBRA token. According to Nansen, over 13,000 investors lost a total of $251 million. In contrast, the alleged carpet-pulling allowed only 2,101 investors to gain a total of $180 million. What an abuse of power!
$LIBRA lost $4 Billion Trump’s meme coin lost about $2 Billion 2024 saw over $500 Million to memecoin rug pulls. North Korea stole $1.5 Billion. They should have made a meme coin if they REALLY wanted to rob people.
$LIBRA lost $4 Billion Trump’s meme coin lost about $2 Billion 2024 saw over $500 Million to memecoin rug pulls. North Korea stole $1.5 Billion. They should have made a meme coin if they REALLY wanted to rob people.
tldr; The Davis family, led by Hayden Davis, is at the center of a crypto scandal involving the $LIBRA memecoin, which was promoted by Argentine President Javier Milei. The token's value skyrocketed before collapsing, causing $251 million in investor losses. Allegations of insider trading and misuse of funds have emerged, with $100 million transferred to wallets linked to the Davis family's firm, Kelsier Ventures. The family's controversial history includes criminal activities and ties to a polygamist cult. Investigations are ongoing, and the family has largely disappeared from public view. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
tldr; Since the launch of Donald Trump's memecoin, TRUMP, on Jan. 18, several world leaders have been implicated in memecoin scandals. Argentine President Javier Milei faced backlash over the LIBRA token, which caused $251 million in losses for investors. Central African Republic President Faustin-Archange Touadéra's CAR token faced legitimacy issues, while Bermuda Premier David Burt and Saudi Crown Prince Mohammed bin Salman were impersonated in scams. Malaysia's former PM and Cuba's government also faced crypto-related hacks. The memecoin craze appears to be slowing down. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Probably a tough crowd here. Not many left in crypto that are “in it for the tech” and early principles. Mostly are in it today for the personal gains and don’t care if it contributes to societal gains (although ofc many value signal this similar to green washing oil companies). Even those starting out with genuine intentions of the tech creating a better world have been corrupted along the way by their newfound riches and now care more about protecting it at every cost now. Some of them might even jump on a pump and dump opportunity like $KRASNOV or $LIBRA when they see it.
tldr; Argentine President Javier Milei has once again promoted the allegedly fraudulent LIBRA token through his official X account. He retweeted a post explaining how to purchase the token, despite previously deleting a promotional tweet about it after the token's price crashed. Milei had claimed no connection to the token following the earlier controversy. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
tldr; Argentina's President Javier Milei faces impeachment after promoting a cryptocurrency scam involving the $LIBRA token, which caused significant financial losses. The token's value surged following Milei's endorsement but plummeted after insiders sold off their holdings, resulting in an estimated $280 million loss for investors. Milei denied involvement, claiming ignorance of the project's details, but evidence suggests prior interactions with the scheme's operators. This incident follows a similar crypto controversy involving Milei in 2022, raising questions about his economic credibility. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
1.4billion is nothing now that’s why. Traders see a discount and keep buying because they know it will rebound I think the LIBRA rug pull was like 4.5B
tldr; Ye, formerly known as Kanye West, is reportedly planning to launch a cryptocurrency called YZY, intended as the official currency for his Yeezy brand. This move comes after distancing from traditional financial platforms due to public controversies. The YZY token will have 70% of its supply allocated to Ye, raising concerns about centralized ownership. The launch was delayed following a scandal with Argentina's president and the LIBRA token. Critics warn of risks with celebrity-backed digital assets, despite claims of a vesting period for Ye's tokens. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
TRUMP, MELANIA, and LIBRA did a lot of damage
tldr; Ethereum co-founder Vitalik Buterin highlighted the collapse of the Solana meme coin LIBRA as a lesson in the importance of education in the crypto space. He emphasized not giving up and praised Argentina's contributions to the Ethereum ecosystem. Buterin suggested Argentina could host Ethereum's Devconnect gathering. The LIBRA token's collapse, promoted by Argentina's President Javier Milei, led to significant financial losses and legal scrutiny. The incident underscores the volatility and risks associated with meme coins. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Think that there could be a similar Argentinian boy that spent the same amount in $LIBRA
How come ETH fans use everything as an excuse to be bullish? Now apparently the whole LIBRA fiasco is bullish for ETH because Argentinians will all start using Ethereum en masse. This is so absurd.
Argentinian here. I’m not sure what kind of information you guys have been seeing internationally about the issue with LIBRA, but it doesn’t seem quite right. If you have any questions, I’d be happy to share a closer perspective.
This is better than CZ's donation to the LIBRA scam victims/gamblers.
This dude Hayden is either a narcissist or a really dumb scammer. He says things like "We didn't swapped liquidity. We sold.", "I snipped my own token to protect it from other snipers", "I wanted to give LIBRA some utility", "People should know better" (true but still no excuse to scamming them) or "memecoins have the same utility as Bitcoin" (Don't want to get into a long dissertation about this but it's factually wrong)... and the most truthful things he said (like that he still has the money and was also part of Melania token launch) may put him in severe danger. Honestly... I can't care less if this dude ends up dead in the next few days/weeks. He did this to himself.
tldr; Nic Carter, a partner at Castle Island Ventures, claims that the era of memecoins is "unquestionably over" following the $4 billion LIBRA scandal involving Argentine President Javier Milei. He argues that the scandal has exposed the corrupt nature of the memecoin sector, which was previously seen as a fairer alternative to VC-backed coins. Despite this, some industry figures like Armani Ferrante and Coinbase CEO Brian Armstrong believe memecoins still hold potential for innovation and stress-testing financial systems. However, data shows a declining interest in memecoins. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
The OP said the BNB was worth $100k and the loses on LIBRA were about $4 billion (though those were paper losses I'm sure).
He’s getting the money back he lost in LIBRA
tldr; Binance founder Changpeng Zhao (CZ) donated 150 BNB to victims of the LIBRA meme coin scam, but received more crypto than he gave after sharing his donation address. The LIBRA coin, promoted by Argentine President Javier Milei, collapsed, causing over $4 billion in damages to 40,000 investors. Zhao pledged to donate the extra funds to other scam victims and clarified he does not endorse the tokens involved. The LIBRA token's launch and subsequent crash led to fraud charges against Milei and the token's team, with allegations of market manipulation and insider trading. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
tldr; President Javier Milei of Argentina is embroiled in controversy after an interview about the LIBRA cryptocurrency was revealed to be staged and edited, despite being presented as live. Key questions were removed, leading to a loss of over $100 million in LIBRA's market cap and a negative impact on Argentina's sovereign bonds. The scandal has intensified calls for Milei's impeachment, affecting both the crypto markets and Argentina's economy. The incident highlights the growing entanglement of crypto with traditional finance and its potential repercussions. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
tldr; On-chain evidence and investigations have linked the LIBRA token to the MELANIA meme coin issuers, suggesting the same entity orchestrated both projects. The LIBRA token, endorsed by Argentine President Javier Milei, surged in value before crashing, similar to the MELANIA token. Blockchain analytics revealed interconnected wallet activities, indicating profits from one scheme funded the other. KIP Protocol and insider Hayden Mark Davis have conflicting accounts of their involvement, with Davis admitting to orchestrating both launches. The scandal has led to fraud charges against Milei. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
tldr; Ben Chow, co-founder of Meteora, a Solana-based platform behind the Trump and Melania tokens, has resigned amid insider trading allegations following the collapse of the LIBRA token. The token, initially backed by Argentine President Javier Milei, saw its value plummet over 90% shortly after launch, raising suspicions of insider trading. Chow's resignation has sparked discussions on the ethics of high-profile token launches. Meteora and Jupiter exchange, both co-founded by Chow, deny involvement in insider trading, and an independent investigation is planned. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
tldr; Solana has experienced a significant decline, dropping nearly 38% since January, largely due to memecoin speculation and a decrease in trading volume. The collapse of the LIBRA token, which saw a massive drop in value, has further eroded confidence in the Solana network. Insider trading has reportedly extracted over $200 million, adding to the skepticism. Additionally, the upcoming release of 11.2 million SOL tokens on March 1 could increase selling pressure and market volatility. This situation has led to increased scrutiny of memecoins and concerns about Solana's short-term recovery. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
tldr; The LIBRA meme coin team, associated with Kelsier Ventures, explored launching a meme coin in Nigeria with members of the administration. Although there's no direct link to President Bola Tinubu, some of his team were reportedly involved. The project was advanced but unlikely to proceed due to negative press from the LIBRA and Melania Trump memecoin incidents and Nigeria's crackdown on crypto activities. Kelsier Ventures faced controversy after the LIBRA coin's value surged and collapsed, leading to accusations of a pump-and-dump scheme. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
tldr; Argentine President Javier Milei is facing impeachment calls and legal action for alleged fraud after promoting the $LIBRA cryptocurrency on social media. Milei's post caused the coin's price to surge, but it quickly plummeted after he deleted the post, resulting in significant investor losses. Accusations of a "rug pull" have emerged, where promoters abandon a cryptocurrency after raising funds. The presidential office stated Milei was not involved in the coin's development, and an investigation is underway. Opposition figures, including former President Cristina Fernández de Kirchner, have criticized Milei. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
It only pumped because of the Trump shitcoin and it has been crashing ever since, and with every meme scandal ($LIBRA) recently, it just dumps more and more.
Narrator: *the thing OP didn't seem to realize is that, even in the wonderful world of infinite Internet money, there never was such a thing as a right LIBRA token*
tldr; DefiTuna's founder, Moty, announced the severance of ties with investor Kelsier after uncovering a $200M market manipulation scheme involving memecoins like $LIBRA and M3M3. Kelsier, with Meteora's leadership, orchestrated token manipulations, extracting large sums from community members. DefiTuna refunded Kelsier's $30,000 investment and exposed the scheme, revealing that Kelsier and others profited by pre-buying tokens and manipulating liquidity. SolanaFloor is investigating the situation further. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
tldr; Traders are increasingly shorting Solana's SOL coin as sentiment declines due to memecoin scandals on the network. The long-to-short ratio on futures exchanges has dropped, indicating bearish sentiment. Memecoins like Bonk and Dogwifhat initially boosted Solana's ecosystem but have since faced insider selling and losses, damaging sentiment. The LIBRA coin, linked to Argentine President Javier Milei, lost $4.4 billion in market cap quickly, and Trump's memecoin has seen significant losses, further impacting Solana's reputation. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
I'm a Nigerian prince, so give me your $LIBRA and I'll double it!
tldr; Hayden Davis, involved in the LIBRA token launch, denies allegations of a 'rug pull' following the token's crash, attributing it to a failed strategy. Davis, custodian of $100 million from the project, claims the crash was due to a plan to control market manipulation that went awry, not fraud. He mentions political pressure on President Milei, who withdrew support, affecting the project. LIBRA lost over 90% of its value amid insider trading allegations. Investigations suggest market manipulation links to other projects, but Davis denies profiting from these activities. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
"Argentina stands as a blockchain leader in Latin America, home to projects like [\#OpenZeppelin](https://x.com/hashtag/OpenZeppelin?src=hashtag_click) and [\#RSK](https://x.com/hashtag/RSK?src=hashtag_click), pioneers in security and smart contracts. But now, [$LIBRA](https://x.com/search?q=%24LIBRA&src=cashtag_click) and the $100 million rug pull have damaged the credibility of the entire ecosystem" [https://x.com/fede\_sendra/status/1891501869433790545](https://x.com/fede_sendra/status/1891501869433790545)
tldr; In a revealing interview with Coffeezilla, Hayden Davis, a self-proclaimed launch strategist, admitted to insider trading and market manipulation involving meme coins, implicating Donald Trump, Melania Trump, and others. Davis described how meme coins like LIBRA were manipulated from the start, with insiders having pre-launch access to tokens. He detailed how early buyers were given access to Trump's token before the public, and how Melania's token followed a similar pattern. The interview has sparked controversy and legal concerns, with Davis facing potential prison time. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
tldr; Bubblemaps has presented new on-chain evidence suggesting that the team behind the controversial Libra (LIBRA) meme coin is the same group responsible for launching Melania (MELANIA). *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
And he bought LIBRA then /s 
Coffeezilla LIBRA interview is out: https://youtu.be/EqizJTbxAEM?feature=shared
tldr; Argentine lawyers have filed fraud charges against President Javier Milei for promoting a cryptocurrency called $LIBRA on his social media. Milei's post, which was later deleted, led to a collapse in the currency's value, causing significant financial losses. The coin was linked to KIP Protocol and could be accessed via a website. The President's Office stated Milei was not involved in the cryptocurrency's development and removed the post to prevent speculation. The case is expected to be investigated further by the judiciary. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
tldr; Argentine President Javier Milei faces impeachment calls after endorsing the Libra (LIBRA) cryptocurrency, which collapsed in a suspected insider scam. The token's value plummeted over 94% shortly after Milei's endorsement, leading to accusations of a rug pull. Milei claims no connection to the project and has requested an investigation into potential misconduct. Despite his denial, insider wallets linked to the Libra team reportedly cashed out over $107 million. The incident has sparked political controversy and scrutiny over the project's legitimacy. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Milei's post endorsing $LIBRA (it's not libre) was up for 4 hours btw.
tldr; Blockchain analysts have linked the LIBRA meme coin to other controversial cryptocurrency projects, including MELANIA. Investigations suggest LIBRA's market maker, allegedly based in Delhi, controlled multiple tokens involved in pump-and-dump schemes. These schemes led to rapid price increases followed by crashes, leaving investors with losses. The LIBRA token, briefly endorsed by Argentina's President Javier Milei, saw a surge and subsequent collapse, prompting accusations of market manipulation. KIP Protocol and Kelsier, linked to LIBRA, deny wrongdoing, while the controversy continues to unfold. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
tldr; Argentine President Javier Milei faces impeachment calls after endorsing the Libra (LIBRA) cryptocurrency, which collapsed in a suspected insider scam. The token's value plummeted over 94% shortly after Milei's endorsement, leading to accusations of a rug pull. Milei claims no connection to the project and has requested an investigation into potential misconduct. Despite his denial, insider wallets linked to the Libra team reportedly cashed out over $107 million. The incident has sparked political controversy and scrutiny over the project's legitimacy. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
tldr; Argentina’s President Javier Milei has withdrawn his support for the LIBRA meme token after initially endorsing it without conducting due diligence. The token, part of the Viva La Libertad Project, lost 85% of its value amid reports of liquidation. Milei admitted to not being aware of the project's details and deleted his supportive tweets. This incident follows a previous controversy where Milei promoted CoinX, an alleged Ponzi scheme. Critics have used these events to question Milei's judgment in endorsing crypto projects. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
tldr; Argentina's president Javier Milei launched a memecoin called $LIBRA, claiming it would boost the country's economy. However, within five hours, $4.4 billion vanished as insiders dumped their holdings. The project lacked transparency and was backed by a sketchy website. Over 50,000 wallets were affected, and the memecoin market lost $6 billion. Milei distanced himself from the project, claiming no connection. The incident has been labeled as the largest crypto rug pull in history, raising questions about accountability and the involvement of notorious traders. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Ironically (or not) there are more than a dozen "LIBRA" tokens in the wild, some of which explicitly declare their names are an acronym for "Look, I'm Being Rugged Again."
tldr; The Libra (LIBRA) cryptocurrency, endorsed by Argentine President Javier Milei, experienced a massive crash after insiders withdrew over $107 million, causing the token's value to plummet by nearly 94% within hours. Onchain intelligence firm Lookonchain identified at least eight wallets linked to the Libra team that drained liquidity, resulting in a significant loss. The token initially reached a market cap of $4.56 billion but fell to $257 million shortly after. Following the collapse, Milei deleted his endorsement and blamed political opponents. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
LIBRA sucking out liquidity thanks
Zuck was all in for stable coins, was very close to releasing LIBRA coin back in 2019. But US gov wouldn’t allow it . Maybe in a few years he goes for round 2. WhatsApp infrastructure is ready with 2B users to deploy