Ціна 2024PUMPPUMP

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Argentina’s President Javier Milei is under fire after promoting a cryptocurrency called LIBRA. The token tanked shortly after his endorsement, and now he’s facing serious blowback. Opposition lawmakers, like Leandro Santoro, are even pushing for President Milei’s impeachment, pointing to potential wrongdoing in the situation. News from Associated Press lawyers in Argentina have filed fraud charges against the president. They accuse him of promoting LIBRA, a token they say was involved in a “rug pull” scam. This is where developers pump up a crypto’s price, then bail out, leaving regular investors with nothing. Jonatan Baldiviezo, a lawyer and plaintiff, put it bluntly, “Within this illicit association, the crime of fraud was committed, in which the president’s actions were essential.” Related: Argentina President Milei Backpedals on LIBRA Meme Token After 89% Plunge in Value On February 14, 2025, Milei took to the social media platform X, and talked up LIBRA. He called it a private venture that would boost Argentina’s struggling economy, especially for small businesses. After his post, LIBRA’s value shot up, reaching a market cap of $4.56 billion. But the excitement didn’t last long. Within hours, the token crashed, losing over 90% of its value and wiping out more than $4 billion in market cap. Investigations later showed that the team behind LIBRA, specifically linked to KIP Protocol, withdrew over $107 million in liquidity shortly after the coin’s launch. However, the President’s Office said that Milei had no involvement in any part of the cryptocurrency’s development. “The President shared a post on his personal accounts announcing the launch of KIP Protocol’s project, as he does daily with many entrepreneurs who wish to launch projects in Argentina to create jobs and attract investments,” the statement said. Milei, who has been viewed as a libertarian leader and a staunch advocate for free-market capitalism, is now getting hammered for his role in this mess. His endorsement of the cryptocurrency and its collapse has sparked further concerns about the risks associated with unregulated digital assets. Related: Central African Republic’s CAR Memecoin Launch Marred by Deepfake Claims & Suspended Domain Critics argue incidents like this give regulators more reasons to step in. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

President Javier Milei withdrew his support for LIBRA, citing a lack of due diligence. LIBRA’s price crashed nearly 89% within hours, with allegations of a pump-and-dump scheme. On-chain analysts flagged suspicious fund movements and centralized control of the token supply. Argentina’s President Javier Milei has retracted his endorsement of the LIBRA meme token, stating he had no connection to the project. His reversal comes after the token’s price tanked almost 89% in just hours, sparking alarm in the crypto community. Milei had initially promoted LIBRA in a now-deleted post on X, linking it to the Viva La Libertad Project, which claimed it would help Argentina’s economy by funding small businesses. However, after learning more details, he took down his tweets and clarified that he had not conducted proper due diligence before endorsing the project. In his words: <blockquote> “I initially supported a supposed private enterprise with which I have no connection. After becoming aware of the details, I decided to discontinue spreading the word.” <blockquote> LIBRA’s Price: Up Fast, Down Faster Right after Milei’s initial endorsement,… The post Argentina President Milei Backpedals on LIBRA Meme Token After 89% Plunge in Value appeared first on Coin Edition.

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