On February 14, #阿根廷总统MEME币争议 2, Argentine President Milei posted on his X account, which has over 3.8 million followers, announcing the launch of his cryptocurrency $LIBRA, claiming it to be a unique 'investment opportunity.' He stated that the cryptocurrency is designed to provide financing for small companies and entrepreneurs in Argentina, 'this private project will be dedicated to encouraging the growth of the Argentine economy.' The post also included a link to $LIBRA.

A few hours later, Milei deleted the post and issued another one stating that he has no relationship with the project, 'I do not understand the details of this project, and after learning about it, I decided not to continue spreading it.'

However, within those few hours, $LIBRA experienced dramatic changes. At the initial release of the cryptocurrency, most of it resided in a few digital wallets, with a price nearly at zero. Just half an hour after its release, $LIBRA quickly surged to nearly 5 dollars, with a total market value exceeding 4 billion dollars. Less than 5 hours later, its price plummeted to cents. As of February 17, it has dropped to 0.000721 dollars.