#MileiMemeCoinControversy
The $Milei ‘Libragate’ debacle took months to develop, days to unfold
This week, the Libra memecoin sparked an international scandal involving the president of Argentina. To understand it, one must look back to June 2024.
The whirlwind scandal involving Argentine President Javier Milei and the Libra memecoin took only days to unfold — but seems to have been in the works for several months.
“Libragate” kicked off on Feb. 14, when the Solana-based Libra token was promoted by Milei on X, causing it to rally within minutes. It skyrocketed to over $4.50 before rapidly crashing below $0.20 within five hours of launching.
The quick price action led many to suspect a pump and dump. In Argentina, political opposition called for Milei’s impeachment, while one of the project’s affiliates said he received death threats.
Disgruntled investors are now demanding answers from the token’s team. The drama occurred in a matter of hours, yet the story goes back several months — featuring a host of alleged players who present opposing accounts of what happened.
