@tokenizedsociety's thread

Libra - Rugged

Argentina's president, Javier Milei, endorsed and then quickly distanced himself from the $LIBRA token, which skyrocketed to $4.5 billion before crashing to $300 million in what many are calling a political meme coin rug pull. Insiders controlled 82% of the supply, extracting millions while retail investors were left with heavy losses. This scandal, which featured fraudulent promotions, insider trading, and political fallout, highlights the growing trend of political tokens being used as get-rich-quick schemes rather than true financial innovations.

#technology #crypto #milei #libra #argentina #rug