🚨🚨🚨 Milei Meme Coin Controversy Rocks Crypto Market 🚨🚨🚨
Argentina’s President Javier Milei unknowingly fueled a massive pump-and-dump scheme by promoting the LIBRA meme coin, which later collapsed. After his now-deleted endorsement, LIBRA’s market cap surged to $4.5 billion, but within hours, it lost over 94% of its value as insiders withdrew $107 million.
On-chain data reveals $57.6 million in USDC and 249,671 SOL ($50 million) were cashed out from key wallets, with some traders profiting $20.18 million through front-running tactics. The scandal has raised serious concerns over politically endorsed meme coins and the lack of investor protections in such volatile projects.
