🪙 What is $LIBRA

$LIBRA was launched on February 14, 2025, as part of the "Viva la Libertad" project. Following its promotion by Milei and other officials, its value skyrocketed from $0.000001 to $5.20 in less than an hour. However, shortly after, the founders — who held 70% of the supply — massively sold their holdings, causing an 85% drop in its value. It is estimated that around 50,000 people suffered significant losses, while the founders made profits close to $87 million in a maneuver known as a "rug pull".

⚖️ Reactions and consequences

The dissolution of the UTI has generated criticism from the opposition, which accuses Milei of trying to cover up the scandal and avoid a transparent investigation. Furthermore, both the Argentine and U.S. justice systems have initiated investigations into Milei, his sister Karina, and others involved in the case. The opposition also seeks to reactivate a parliamentary commission to delve deeper into the investigation, although it has so far been blocked by the ruling party.

The Country

This case has raised concerns about the lack of regulation in the cryptocurrency market and has highlighted the need to establish protective mechanisms for investors.