Argentina president Javier Milei has a backtrack in a tweet that promotes a memecoin called Libra, which has increased to a $ 4.4 billion market cap before falling more than 95%.
In a tweet today, Milei wrote: “This is a private project dedicated to encouraging Argentine’s economic growth,” along with a Solana contract address linked to the Libra token.
Libra rose more than 2,000% in a 40-minute span following a tweet, only quickly collapsed as a group of early holders began to cash out.
The X Account KobeissileTter shared a series of bubblemaps screenshots showing that the so -called “insider” liquid tokens by adding one -sided Metora’s pools to Metora with only Libra, allowing them to be Remove solo and stablecoins.
The trading volume for Libra hit $ 1.1 billion after the launch, even though it appeared that purchases and sales were skewed; There are 74,500 individuals who buy orders and 28,900 sales – indicating that the larger seller’s orders flatten a fuzzy retail activity.
Milei later discussed Botched Memecoin in X, saying “He doesn’t know the project details.”
A few hours ago I published a tweet, such as so many other endless hours, supporting a so -called private adventure that clearly had no link.
I have never internalized from project details and after internalizing I decided not to continue giving her …
– Javier Milei (@jmilei) February 15, 2025
“A few hours ago I posted a tweet, because I had many other times, supporting a supposed private business which obviously I had no connection,” Milei wrote. “I didn’t know the details of the project and after learning it I decided not to continue the spread of the word (that’s why I removed the tweet).”
Sell-off in Libra Rippled across the wider Memecoin Market, with Trump lost $ 500 million from its market cap, According to market dataIn a 30-minute period after Libra begins to rock.
