Argentine President Javier Milei faced harsh criticism after promoting the Solana-based memecoin, LIBRA. The promotional activity led to an initial spike in the coin's value, followed by a dramatic 95% crash. This downturn caused significant financial losses for investors and raised concerns about the repercussions of such endorsements.
The LIBRA crisis highlights the volatility and risks associated with memecoins, questioning the influence of political figures on the market. Investors are left reevaluating their trust in such digital assets.
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