February 15, 2025

at

12:00 am

EST

(Updated:

)

MIN READ

LIBRA Token Plummets After Javier Milei Deletes Tweet

Arkham
Article
Guides
News
Reports
Trading

Contents

    The LIBRA token on Arkham
    The LIBRA token on Arkham

    Over the weekend, the President of Argentina, Javier Milei, tweeted a contract address on Solana of a newly launched memecoin, LIBRA. While the token did initially surge to a peak valuation of $4.5B, it quickly plummeted 95% as President Milei deleted his original tweet and distanced himself from the token, stating that he was not endorsing the launch and it was “private enterprise” instead.

    President Milei’s update on the token
    President Milei’s update on the token

    Behind the token launch, the token developer and addresses linked to the deployer have extracted more than $100M in SOL and USDC from the token launch, with many of them profiting off trading fees from liquidity provision and then later selling for SOL or USDC.

    Connected addresses to the LIBRA token which have extracted significant profits
    Connected addresses to the LIBRA token which have extracted significant profits

    Rumors also circulated of several memecoin trading groups having insider knowledge of the token launch beforehand, with clipped streams of said traders mentioning it on stream during the token launch.

    Information provided herein is for general educational purposes only and is not intended to constitute investment or other advice on financial products. Such information is not, and should not be read as, an offer or recommendation to buy or sell or a solicitation of an offer or recommendation to buy or sell any particular digital asset or to use any particular investment strategy. Arkham makes no representations as to the accuracy, completeness, timeliness, suitability, or validity of any information on this website and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. Digital assets, including stablecoins and NFTs, are subject to market volatility, involve a high degree of risk, can lose value, and can even become worthless; additionally, digital assets are not covered by insurance against potential losses and are not subject to FDIC or SIPC protections. Historical returns are not indicative of future returns.