Can you believe that Argentinian President Javier Milei rugged his own Country after doing such a great job of improving conditions almost against all odds?
So what happened?
On February 14th 2025, President Javier Milei posted on his X accountto promote $LIBRA, a memecoin launched on the Solana blockchain. He described it as a private project aimed at increasing the growth of Argentina’s economy by funding local businesses and startups. The post included a website link and the token’s contract address. Since he promoted $LIBRA it seemed legitimate due to Milei being President.
Right after Milei’s endorsement, $LIBRA went straight up. The market Cap went tp approximately $4.5–$4.6 billion within hours, with the token price peaking at nearly $5!!!!
Within a short period—approximately five to eleven hours after the launch—the token’s value plummeted by over 94%, dropping to under $1, with the market cap shrinking to as low as $257 million at one point. This crash wiped out billions of dollars in investor value, affecting over 50,000 wallets. What a scam!!!!
After the collapse, Milei deleted his original post and issued a statement distancing himself from the project. Butt of course the Tweet was saved by many and lives on forever. He claimed he was unaware of the project’s details when he promoted it and, upon learning more, decided not to continue supporting it. He also accused political opponents of exploiting the situation to harm his reputation. So why would you promote something you did not know about? Makes no sense. In fact it's nonesense!
Since the Blockchain is immutable the internet was able to get to the bottom of things. Here's what they found out:
Blockchain analysis showed that approximately 82% of $LIBRA’s total supply was held in unlocked wallets, meaning these tokens could be sold at any time without restrictions. This high concentration in the hands of a few holders (often referred to as “whales”) is a red flag, as it allows insiders to manipulate the market. And of course once the token shoots up they sell like greedy pigs onto innocent people believing Milei's promotion of the project.
These types of projects have major transparency issues and also have zero utility. They are Shitcoins built for nothing else but to pump and dump and extract max value from Plebs.
Still so much more to investigate and this may undo all the "Good" President Milei has done up to this unfortunate rugpull.
Is there more to the story? Is there way more planned corruption than already exposed?
