Argentinian president Javier Milei promotes memecoin that then crashes 95% in apparent $100 million+ rug pull
Argentinian president Javier Milei promotes memecoin that then crashes 95% in apparent $100 million+ rug pull
A tweet from Argentina's president Javier Milei promoted a memecoin called Libra, which he described as a "private project [that] will dedicated to encouraging the growth of the Argentine economy by funding small Argentine businesses and startups". The token quickly soared in price as traders poured...
How many times are people going to fall for this? Someone launches a new crypto and hypes it up, a bunch of random people buy into the hype, prices take a huge nose dive, repeat ad nauseam.
Because there will always be a new naive generation (aside from those severely mentally ill), a share of people will ALWAYS fall for it. Every year, new people will fall for it
So don't be surprised, be informed.
I'm sure a bunch of people buy knowing it'll collapse, but thing they're so smart and savvy they'll sell it just in time to get rich
Well, these were most likely Milei's voters, so what could you expect?
It's scamming the true believers and creates an obfuscated channel for the oligarchs to deliver the carrots / bribes. When Trump launched his memecoin and got a question he waved at the tech billionaires and said "it's peanuts for these guys". Unfortunately nobody followed up with asking if that meant those guys were the ones transferring money to Trump through the memecoin.
I mean, with all due respect, mostly these memecoins aren't promoted by presidents of countries with sized economies as investment opportunities.
Yeah this is why we have regulations and consumer protection, or should have.
If you are not an insider, don't buy, simple as that. And even if you think you are, are you really? Were you invited to the lavish opening party with the flamingos and the dancers at the huge mansion with two pools and all that? If not, then you are at the bottom of the totem pole, much like anybody else. Your designated role is to funnel your own money upward.
Were you invited to the lavish opening party with the flamingos and the dancers at the huge mansion with two pools and all that?
If yes then you're definitely the mark.
The real test is whether you're included in the 5 person Signal group they coordinate the date and time to dump
They dug up a guy from the 70s to run the country.
Might be an 80s guy. He should remember to fix his boneitis though
He looks like a British professional darts player from the 1970s.
Libra
could have sworn that this was the zuckcoin that was making the rounds a few years ago. I looked it up, they rebranded to “diem” due to legal issues before cancelling it altogether.
Libra-now-Diem, yeah. it was a full-on attempt to take the reins of value transmission and storage ("be the economy, be the bank"), beyond just coin
(also written about by david (which I haven't read (yet?) because handwave all my usual things on fire))
Two scams for the name of one. Double Zuck Grifting!!!
This guy looks like a 1950s Argentina’s politician who time travelled to 2025
50s was a good time for politics, until we fell for a militar coup in 55, where civilians were bombarded by our own airforce.
Is it a rug pull if it was only ever a way to funnel Russian money into Milei's pocket? I don't think average folks fall for grifts like this, or Trump's meme coin. It's just a new way to bribe people.
Like, in days past, they'd have just donated a bunch of money to Milei's charitable organizations that would turn around and pay Milei exorbitant speaking fees.
That deserves a paddle'n
Lolololol you’re way too brown for 400 million Americans to make room on the Mars Arkkk for you. It only seats three - Elon, the kid, and the sperm in Dons seat.
I LULD
That's really weird. I've heard that his economy reforms are actually working.
That's weird. I've heard you were a spambot.
If you have some other insightful video that argues against the one I posted please share. The video I posted represents the (quite shallow) depth of my knowledge on the subject of the economic and political situation in Argentina. 🤷
Edit: found this explaining the crypto issue, interesting. https://youtu.be/KFHWFeHYhok
Economic Shock Doctrine works great for the oligarchs. Less well for everyone else. So it's not strange that Milei wants to scam his supporters and hand oligarchs a direct way to show their gratitude.
i'm sure they're working for someone
Yep. He should stick to governing and do less online nonsense.