Insiders took more than $ 100 million from Crypto markets after the Argentinian President Javier Milei supported the launch of a memecoin that was supposedly designed to support the growth of the country.
In one now deleted messageMilei announced the launch of Van Libra, a token designed for “encouraging the growth of the Argentinian economy”, together with a contract address of Solana (SOL).
The market capitalization of scales went to $ 4 billion within a few hours before the price collapsed and Milei put his support back to the currency.
Out Milei in Spanish,
“A few hours ago I placed a tweet because I have so many other times, to support an assumed private company with which I clearly have no connection whatsoever.
I was not aware of the details of the project and after I had become aware of it, I decided not to continue spreading the word (that’s why I removed the tweet).
To the dirty rats of the political caste who want to benefit from this situation to cause damage, I want to say that they confirm every day how mean politicians are, and they increase our conviction to kick them in the A **. “
According to blockchain tracking firm LookonchainThe insiders behind the launch of Libra benefited more than $ 107 million in USDC and SOL to sell their stock of coins to the retail retail trade.
“The scales team has silvered $ 107 million!
Eight portfolios with regard to the Libra team have obtained 57.6 million USDC and 249,671 SOL ($ 49.7 million) by adding liquidity, removing liquidity and claiming reimbursements. “
Libra is currently 92% traded from the all time.
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Generated image: midjourney