🧵 The story of the Argentine LIBRA coin and its scandal and those behind it
🇦🇷💸
1️⃣ Libra currency
Libra ($LIBRA) "meme coin" launched on Solana in 2025. It was promoted by Argentine President Javier Milei, claiming it aims to support local businesses and boost economic growth.
2️⃣ The Argentine president supported the currency
On the dawn of Friday, February 14, 2025, he posted a tweet on Twitter promoting Libra, causing its market value to rise to $4.5 billion within hours! Only 🚀 but he deleted the tweet after long hours .. later without clarification.
3️⃣ The great currency crash 💔
After the promotion, the value of Libra collapsed within 5 hours, resulting in a loss of $4.4 billion in market value. About 86% of traders lost their money, and some described the event as the largest scam in the history of cryptocurrencies. 😱
4️⃣ Fraud allegations
Milei was accused of fraud and entered into a criminal case filed by Argentine lawyers and politicians, alleging that the promotion was part of a "Pump and Dump" scheme. The case reached the courts, with a judge assigned to investigate.
5️⃣ The Argentine president's response was
He claimed that his promotion was to encourage economic growth, but he denied any direct connection to the currency after the crash. 😂.
There are allegations that his sister received money from the team behind the Libra currency, which increased suspicions.
6️⃣ The currency experienced a temporary rise
In May 2025, the value of Libra jumped by 80% after the head of the investigation team in the case used his authority, but criminal charges against him still stand. 😡
7️⃣
And the one behind all these schemes to create a currency and commit fraud is the person in this image above, along with his team who also created Trump's wife's currency and spent money on people. So be careful before buying any meme coin. ✍️
$BTC #BinanceHODLerSOPH #TrumpTariffs
