President Milei's $LIBRA Endorsement Sparks Insider Scam Allegations
Argentine President Javier Milei has found himself in a precarious position following his endorsement of the $LIBRA token. The token's valuation briefly surged to $4.5 billion before crashing, with development experts now describing the incident as a massive insider scam.
Milei's office has clarified that he was not involved in developing the $LIBRA project but did meet with its representatives. Despite Milei's retraction, eight insider wallets tied to the $LIBRA team withdrew liquidity exceeding $107 million. Chaofan Shou, a blockchain expert, alleges that the $LIBRA token's market maker is connected to the MELANIA meme coin and other manipulated tokens.
Criminal charges have been filed against Milei in court, accusing him of fraud in connection with the $LIBRA token. Opposition lawmakers are now considering impeachment proceedings against him due to the incident. It's worth noting that there is no publicly available information indicating a relationship between the Libra team and the MELANIA token mine, and former central bank president Claudio Lozano is not publicly connected to allegations against Milei.
The $LIBRA token's surge and crash have raised serious questions about its legitimacy and Milei's involvement. With criminal charges filed and impeachment proceedings under consideration, the situation continues to unfold.
