President of Argentina "scammed" meme coin holders: billions burned in hours

15 February 2025 , 07:37

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President of Argentina "scammed" meme coin holders: billions burned in hours

Last night, President of Argentina Javier Milei posted a tweet with a contract for a meme coin called "LIBRA."

After the token’s market cap rose to $4.59 billion, Milei deleted the tweet, claiming he had no involvement in the event and saw no point in continuing the project.

He also mentioned the opposition, which allegedly tried to "exploit the situation."

As a result, the token’s market cap fell by 96% from its peak.

Sophia Martinez

World Affairs Correspondent