Presidents & Memecoins: A Tale of Wiped Billions!

• Argentina’s Leader in Denial Over LIBRA’s Dubious Beginnings
• $4 Billion Vanishes: LIBRA’s Market Takes a Tumble!

In a rather amusing turn of events, Javier Milei, the dashing President of Argentina, has found himself in a bit of a pickle. He’s now singing a different tune about the LIBRA memecoin, which he once championed like a knight in shining armor. Alas, the coin took a nosedive, falling 96% within the time it takes to enjoy a hearty breakfast, evaporating a cool $4 billion from its market value.

On a platform known as X, Milei claimed he had no ties to the LIBRA gang. He ceased his promotion of the coin once he “caught wind of its true nature,” a move one might describe as closing the stable door after the cryptocurrency has bolted.

LIBRA’s Inner Circle Reaps a Whopping $87M

Bubblemaps, the sleuths of the digital currency world, have reported that the LIBRA brain trust managed to squirrel away a tidy $87M. It appears they were the only ones flogging the token, which is rather like being the only one with a lifeboat on the Titanic.

“$LIBRA took a dive like a stone because the devs snatched $87M. Only $500M more to go before it’s completely underwater!”

The LIBRA’s value plummeted faster than a lead balloon, thanks to the insiders’ cash-out antics. From a towering $3 billion, it now hovers pathetically below $200 million. A pattern, you say? Why, yes! It’s reminiscent of other ‘presidential memecoins’ that took a similar dive.

In January, the TRUMP memecoin soared to the giddy heights of $15 billion, only to come crashing down, leaving investors out of pocket to the tune of $2 billion. Then, President Faustin Archange of the Central African Republic leaped onto the bandwagon with the CAR memecoin, which tanked 98% from its billion-dollar market size.

These memecoins seem to be the work of the most charming of swindlers. Crypto analyst Alex Kruger has gone so far as to label the LIBRA project a ‘state-sponsored crime.’ Touché, Mr. Kruger, touché.

As the presses roll, LIBRA is worth a mere $0.16, a far cry from its once-lofty height of $4.56. Such is the fleeting nature of memecoins and presidential endorsements!

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2025-02-15 13:13