The latest frenzy that started with U.S. President Donald Trump’s TRUMP memecoin launch and saw traders making and losing millions within minutes, might have finally come crashing down with the LIBRA token fiasco.
LIBRA, a Solana-based project that President of Argentina Javier Milei tweeted about on Feb. 14, saw its market cap rise as high as $4.5 billion and then fall more than 80% within a couple of hours as insiders cashed out, leaving many bag holders with massive losses.
The story became an international and political incident over the weekend when in the last couple of days, Milei deleted his original tweet, denied his endorsement and accused the political opposition of mischief. This eventually led to talks of his impeachment and created uncertainty in the Argentinian stock market. Then came an explosive twist to the story.
On Tuesday, CoinDesk broke the news that a key player behind the LIBRA token had bragged about buying…
