Argentinian President Javier Milei briefly posted on X today to promote the token $LIBRA, but quickly deleted the post, emphasizing that he has no association with the project. Meanwhile, the team behind the token also clarified that $LIBRA is unrelated to Milei, causing confusion in the market…
(Background: The President of the Central African Republic recently posted again: thanking everyone for supporting $CAR, announcing a new official website and X account, with the community declaring it too crazy.)
(Background Supplement: Did the President of the Central African Republic also launch the meme coin $CAR? It has been questioned as an AI deepfake, and the official website and X account are no longer accessible.)
Following former U.S. President Donald Trump’s issuance of $TRUMP and Central African Republic President Faustin-Archange Touadéra’s launch of $CAR, it was now Argentinian President Javier Milei’s turn to announce a token address on his X account. However, the tweet was soon deleted, leading to a sharp decline in the token’s price and making it a significant topic in today’s market.
Due to Javier Milei’s advocacy of free markets and positive attitude towards Bitcoin, coupled with Argentina’s long-term struggle with high inflation, there has been strong demand for cryptocurrencies, making the country well-known in the crypto community.
Argentinian President Suspected of Launching Meme Coin $LIBRA
Looking back at the timeline of events, this morning, Javier Milei posted on X about a project called Viva la Libertad (Spanish for “Long Live Freedom”) and publicly shared the contract address of the token $LIBRA. He wrote in the tweet:
Argentinian liberals are growing!!!
This private project will focus on promoting economic growth in Argentina, funding small businesses and new ventures.
The whole world wants to invest in Argentina.
Viva la Libertad
Contract Address: Bo9jh3wsmcC2AjakLWzNmKJ3SgtZmXEcSaW7L2FAvUsU
$LIBRA
However, shortly after this tweet was posted, it was deleted, causing chaos in the market.
Post-Deletion Clarification: Unfamiliar with Project Details, No Longer Promoting
Regarding the reason for the deletion of the tweet, Javier Milei explained:
A few hours ago, I posted a tweet, as I have done so many times in the past, supporting a so-called private enterprise, although I clearly have no association with it.
At that time, I was not aware of the details of this project, and after learning more information, I decided not to continue promoting it (which is also the reason I deleted the tweet).
Additionally, he responded to external doubts:
To those dirty politicians who want to take advantage of this incident, I want to tell you: you prove every day the vile nature of politicians, which strengthens our resolve to kick you out of politics.
“Just a few hours ago, I posted a tweet, as I have done so many countless times, supporting a supposed private venture of which I obviously have no connection. I was not informed about the details of the project, and after becoming informed, I decided not to continue promoting it…”
— Javier Milei (@JMilei) February 15, 2025
Token Team: President Not Involved, $LIBRA a Great Success
Almost simultaneously, the Web3 AI development platform KIP Protocol posted on X to clarify that Viva la Libertad is a project they initiated, and President Milei did not participate:
Today marks the launch of the ambitious Viva la Libertad project aimed at helping private enterprises in Argentina, and the $LIBRA currency has been successful. We thank everyone for their trust and support.
To address all questions, we would like to clarify that this is a private enterprise project, and President Milei has not participated, nor has he been involved in the development of this project; he has already clarified this himself. This is entirely an independent private enterprise.
Thank you all for being a part of this great beginning!
This statement left the market in shock, as a large number of investors with losses flooded the comments section to voice their criticism.
“Today was the launch of the ambitious Viva la Libertad project to help private enterprises in Argentina, and the $LIBRA currency has been a success. We want to thank everyone for their trust and support.
To address all questions: we would like to clarify that this is a private…”
— KIP Protocol (@KIPprotocol) February 15, 2025
$LIBRA Market Cap Soars to $4.6 Billion Before Plummeting Over 95%
Less than an hour after its launch, the market capitalization of $LIBRA soared past $4.62 billion, with prices reaching a peak of $4.6215, momentarily placing it among the top 33 cryptocurrencies by market cap, reminiscent of the excitement during the launch of $TRUMP.
However, following Javier Milei’s deletion of the tweet, $LIBRA plummeted by 50% within 15 minutes, with the current price reported at $0.1941, down over 95.8% from its peak.
Team Cashes Out Over $107 Million
According to on-chain data analysis platform Lookonchain, the $LIBRA team has cashed out $107 million. On-chain data indicates that eight wallets associated with the $LIBRA team obtained:
57.6 million USDC
249,671 $SOL (approximately $49.7 million)
by adding liquidity, removing liquidity, and claiming fees.
The team made substantial profits; however, most investors suffered severe losses, leading to strong dissatisfaction in the market. Subsequent developments will be continuously reported by the relevant news outlets.
“The $LIBRA team has cashed out $107M! Eight wallets related to the $LIBRA team have obtained 57.6M $USDC and 249,671 $SOL ($49.7M) by adding liquidity, removing liquidity, and claiming fees.”
— Lookonchain (@lookonchain) February 15, 2025
