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Nemeski@lemm.ee to Buttcoin@awful.systemsEnglish · 3 months ago

Argentinian president Javier Milei promotes memecoin that then crashes 95% in apparent $100 million+ rug pull

www.web3isgoinggreat.com

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Argentinian president Javier Milei promotes memecoin that then crashes 95% in apparent $100 million+ rug pull

www.web3isgoinggreat.com

Nemeski@lemm.ee to Buttcoin@awful.systemsEnglish · 3 months ago
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A tweet from Argentina's president Javier Milei promoted a memecoin called Libra, which he described as a "private project [that] will dedicated to encouraging the growth of the Argentine economy by funding small Argentine businesses and startups". The token quickly soared in price as traders poured in.However, within hours of the launch, insiders began selling off their holdings of the token. The token had been highly concentrated among insiders, with around 82% of the token held in a small cluster of apparently insider addresses. Those insiders cashed out around $107 million, crashing the token price by around 95%.After the crash, Milei deleted his tweet promoting the project. He later claimed he was "not aware of the details of the project and after having become aware of it I decided not to continue spreading the word (that is why I deleted the tweet)."
  • Soyweiser@awful.systems
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    3 months ago

    You sound crazy and you use anti sexworker language ( after some racist language). Nothing you say has to do with the article linked. Also weirdly conspiratorial tone. Not a fan of that.

    • self@awful.systems
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      3 months ago

      yeah, this is nothing but red flags

      • Soyweiser@awful.systems
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        3 months ago

        I’m just sitting here going ‘you are hating this guy wrong!’

    • froztbyte@awful.systems
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      3 months ago

      ^ what they said

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