President Milei's Libra Endorsement Sparks $4.5B Surge, Crash, and Legal Action
Argentine President Javier Milei's backing of the LIBRA token led to a temporary boost in its value, peaking at $4.5 billion before plummeting. This event has sparked debate and legal action.
Development specialists have condemned the LIBRA token's price behavior as a major insider scam. Following Milei's endorsement, opposition lawmakers are exploring impeachment against President Milei. Criminal charges have also been filed against him for his role in the incident.
The LIBRA team withdrew liquidity worth over $107 million after Milei's retraction. This move came after eight insider wallets liquidated $107 million, resulting in a $4 billion market loss. Hayden Davis, the key figure behind both LIBRA and the MELANIA meme coin, was involved in both projects. Chaofan Shou alleges that the LIBRA token's market maker is linked to the MELANIA meme coin and other manipulated tokens.
The LIBRA token's value briefly surged and crashed following Argentine President Javier Milei's endorsement. The incident has led to calls for impeachment, criminal charges, and allegations of insider manipulation. The opposition has not yet presented evidence of coordinated manipulation involving these projects.
