🇦🇷 The President of Argentina called for the purchase of the token but soon distanced himself from it.
📢 "A few hours ago, I posted a tweet in support of the so-called private enterprise, to which I have no relation. I was not aware of the details of the project, and upon learning, I decided not to spread any more information about it. That's why I deleted my previous tweet," Milei wrote on social media X.
On Friday, Milei posted an enthusiastic tweet about a new token called LIBRA, informing users about a "unique investment opportunity."
According to the website promoting the token, LIBRA is designed to stimulate funding for small Argentine companies and entrepreneurs. Soon after Milei's tweet was published, the price of LIBRA reached $4,978, and its market capitalization grew to $6 billion.
However, just a few hours later, amid reports of the project's team's liquidation, the memecoin collapsed to $0.99159. Investor losses amounted to tens of millions of dollars.
The incident shocked not only the crypto community but also Argentine politicians.