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Keys to understanding Milei's scandal with the meme coin $LIBRA

Germán Gismondi, an expert in cryptocurrencies, said that the mistake was in promoting this token as something else. And he considered that the President "ate the curve."

02/17/2025 | 11:21

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PHOTO: Keys to understanding the scandal of Milei the meme coin $LIBRA

PHOTO: Keys to understanding the scandal of Milei the meme coin $LIBRA

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Keys to understanding the scandal of Milei the meme coin $LIBRA

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Video: Santiago Caputo interrupted the interview with Javier Milei about $LIBRA

Germán Gismondi, a cryptocurrency specialist, analyzed the recent scandal related to President Milei and the cryptocurrency $LIBRA, highlighting that the main error was in the promotion of the project. "It was sold as something else," he said.

"I think the error was in the promotion, not as what a meme coin was, but as something that would be done to finance companies," explained Gismondi. This misguided approach led to a rapid rise in the price of the coin, which then plummeted when major players decided to sell quickly.

What is a meme coin?

The specialist defines a meme coin as a token created on a network, such as Solana, that lacks a real purpose and is based on speculation. “A meme coin is a purely speculative currency, it has no product, no objective,” Gismondi clarified. In contrast, Milei presented it as something different.