Argentina’s President Javier Milei is facing significant political backlash following his promotion of a cryptocurrency called LIBRA, which experienced a dramatic collapse shortly after his endorsement. On February 14, 2025, Milei posted on social media platform X recommending LIBRA as a private initiative aimed at stimulating Argentina’s economy. This endorsement led to a rapid surge in the token’s value, with its market capitalization peaking at approximately $4.56 billion. However, within hours, the token’s value plummeted by over 94%, erasing more than $4 billion from its market cap. Investigations revealed that at least eight wallets associated with the LIBRA team withdrew liquidity totaling over $107 million shortly after the token’s launch, suggesting a rug pull type scheme where a
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