Solana-based cryptocurrency $LIBRA soared over 60% after Argentina’s President Javier Milei retweeted a tutorial from Darion Epstein, a director of analysis, on learn how to buy the token. The retweet despatched the token’s value skyrocketing, with the market cap briefly reaching $4.5 billion.
In the meantime, Darion Epstein has made a follow-up tweet clarifying that he solely made the tweet to point out that it wasn’t simple for an peculiar individual to purchase the memecoin.
“It isn’t an endorsement, tutorial, or advice. The outline is solely to point out how tough it’s for a median investor, who doesn’t belong to the ecosystem, to make the acquisition. Don’t mislead individuals,” he said. Nevertheless, the tweet has made extra merchants to hurry again to purchase the token
Milei promoted the $LIBRA token on Valentines day as a personal initiative to stimulate Argentina’s financial system by funding small companies. Upon the launch, the token noticed a large pump however later crashed, with its worth shedding greater than 90%.
One other Pump and Dump?
The preliminary surge within the token’s worth got here with lots of questions on its legitimacy. 82% of the $LIBRA token’s provide had already been unlocked throughout a number of addresses, which some believed indicated centralized management over the token.
The mission was tied to KIP Community Inc. and its KIP Protocol, a Web3 framework for AI purposes. On the mission’s web site, a observe appeared that acknowledged, “Non-public Initiative mission developed by KIP Community Inc. © 2025.”
After the crash on Feb 14, Milei deleted his tweet, claiming that he had no prior information of the mission’s particulars. He stated he stopped selling it as soon as he realized extra. Nevertheless, the backlash continued, with Argentina’s fintech chamber suspecting it could possibly be a “rug pull,” a apply the place creators inflate the worth of a crypto token earlier than promoting it for revenue.
Dealer Cashed out $3.3 million
In keeping with Lookonchain, President Milei made the retweet, a consumer named “goofyahh.sol” rapidly invested $5 million in $LIBRA and made an unrealized revenue of $2.8 million. Quickly after, the consumer bought off all his tokens, making one other revenue of $497,000.
Additionally Learn: Influencer Dave Portnoy Loses $5.34M in $LIBRA Token Crash
