Presidents & Rug Pulls – The New Crypto Concern 🚨
**Key Incident:**
- 🇦🇷 Argentine President Javier Milei promoted **$LIBRA** in Feb 2024.
- Token surged to **$4.6B market cap**, then **crashed 97%** within hours.
- **Insiders dumped $100M+**, leaving investors with massive losses.
- Milei **avoided legal consequences** by using his **personal account** (not official channels).
**Why This Matters:**
🔹 **No Accountability:** Leaders exploit crypto hype, then evade responsibility.
🔹 **Investor Risk:** Retail traders bear losses while insiders profit.
🔹 **Regulatory Gap:** Crypto + politics = blurred rules, enabling scams.
**Binance’s Role:**
⚠️ Stay vigilant—verify endorsements, avoid FOMO.
⚠️ Push for **clear regulations** to prevent abuse of power in
crypto.
**Final Thought:**
*"When politicians play traders, the public pays."* Stay safe,
DYOR.