#MileiMemeCoinControversy MileiMemeCoinControversy

Let’s briefly explain the controversy surrounding the LIBRA coin of Argentina’s President Javier Mellae: A detailed explanation

. Initial promotion and rapid collapse

- The beginning: On February 14, 2025, President Javier Mellae published a post on his X account promoting the LIBRA cryptocurrency, describing it as a private project aimed at “stimulating the economy and supporting small businesses.” The value of the coin rose by 3,000% within hours, reaching a market cap of $4.5 billion.

- The collapse: After Mellae deleted the post 5 hours later, the value of the coin fell by 95%, causing huge losses for investors, as the coin lost nearly $4.5 billion in value in less than 7 hours..

Conclusion:

- The controversy surrounding LIBRA highlights the risks of unregulated cryptocurrencies, especially when they are linked to political leaders. While Maye is trying to protect his image as the savior of the Argentine economy, the legal charges and political fallout continue to threaten his credibility. The case could also affect Argentina’s negotiations with the International Monetary Fund, especially with Maye’s upcoming visit to Washington.