What is LIBRA? The Solana Meme Coin That Sparked a Political Scandal

Argentina ran into the Kripto currency dramatically turned in February 2025, when President Javier Milei tweeted In support of Scales, a Saltworks-S -tested The same corner. A few hours, the scale crashed almost 90%, causing charges fraud and calls For Milei’s Empire.

Among the external entities involved in the launch of the scales were Kelsier Ventures, led by Hayden Davis Executive Director; Statue Protocol, led by executive director Julian Peh; and a platform with a headquarters in Solana, which has previously facilitated launch for both Donald and Melania Trump coins.

After the scales of scales, the Argentine stock market lowered More than 5% at the opening of 17 February 2025. This article will examine the scale and scandal surrounding the latest crazy coin.

What is the scale?

Token Libra, created by Viva La Libertad ProjectIt was promoted as a financing tool for small businesses and innovative Argentina projects – a case of unusual use for meme coins, which mainly manages the Internet appearance,, celebritiesand humor.

“This private project will be dedicated to stimulating the growth of the Argentine economy by financing small Argentine companies and startups,” Milei said in a deleted post that included the project website and the contract address. After that, Milei denied that he had any pre -knowledge of the scales project.

Libra has a maximum supply of one billion token. According to the Libertad Project website, the distribution of the scales of scales would be divided 50% to Argentina growth, 20% into a treasury and 30% liquidity.

17. February 2025. Token reached the highest maximum of $ 0.75, according to Co ringecko data. Then market capitalization of the scales reached $ 4.5 billion. A few hours later, he fell sharply, launching fraud investigation and Impeachment calls against Milei.

In May 2025, Milei closed the investigating work group Set to consider potential abuse on your part; A month later, the Corruption Combat Unit in the country cleaned the president During his participation in the scales, stating that he acted in a personal capacity when the project about the project. Since June 2025 a federal criminal probe The affair is still ongoing.

Short Time Live Time Event: Scandal with Libra Token

February 15, 2025. The Office of the President provided a wound lane event Associated with the creation and launch of the scales of scales of meme.

October 19, 2024 – Initial meeting with statue protocol

• The Office of the President reported This President Javier Milei met with representatives of the statue of the protocol in Argentina.
• Representatives informed Milei about their intention to develop a project called “Viva La Libertad” using Blockchain technology to finance private ventures in Argentina.

January 30, 2025. – Meeting with Hayden Mark Davis

• President Milei held a meeting at Cas Rosad with Hayden Mark Davis.
• According to representatives of the protocol statue, Davis would provide technological infrastructure for the project.
• The President’s Office explained that Davis had no previous connection with the Argentine Government and was presented as a partner of a statue of the protocol.

17. February 2025. – Rise and Fall of Libra

• Milei promotes the scale: Argentine President Javier Milei announced the launch of Meme Coin Vage based in Solana, which was promoted as a way to finance small businesses and startups.
• Insider activity before launching: According to a report By TRM Labs, 20 minutes before the announcement of Milei, the address received $ 1 million in token and added them to the meteor liquidity pool.
• All the time high: Scales reach $ 0.75, giving him a market capitalization of $ 4.5 billion.
• Fast fall: Price demolished Nearly 90% within a few hours, which has launched charges of fraud and pump and landfill scheme.
• Withdrawal of liquidity: Wallet wallets with a team of scales have withdrawn $ 7.8 million in salt, contributing to the collapse of prices.

February 18, 2025. – Fallout begins

• Argentine stock market lowered More than 5% at the opening in Buenos Aires, adding financial instability.
• Milei deleted his post that promotes the scale and denied the previous knowledge of the project, as a judge It was assigned to send the probe to fraud on fraud.
• Investors defendant Statue Protocol and its executive director, Julian Peh, Kelsier Ventures and its executive director, Hayden Davis, Mauricio Novelli and Manuel Godoy from the technological forum of Argentina on abuse in scandal scandal.

Insayra’s quotes about trade

Experts suspect that the scale of the scale has collapsed due to insider activity. According to the Analytical Company of the TRM Labs based in San Francisco, 20 minutes before Tvita President Milei, one address was received 1 million Libra tokens added them to the meteor liquidity pool and distributed more to other addresses that did the same.

Shortly thereafter, a research company in Bubblemaps chain identified that the wallets connected to Team He withdrew $ 87 million to Sol from the pool, gradually breaking the price of the scales.

In addition to quotation allegations against Milei, investors defendant Statue protocol and its executive director, Julian Peh, Kelsier Ventures and its executive director, Hayden DavisMauricio Novelli and Manuel Godoy from the technological forum of Argentina on crimes in scandal from Libra.

17. February 2025. $ 100 million“After launching the scales – it fiercely stimulated controversy. Davis claimed that he did not intend to escape with the money.

“Not mine,” Davis said. “It’s Argentina.”

On the same day an analysis on the chain discovered yes meteoro platform based in the solana-known by creating TRUMP and Melania Meme coins – it was also behind the scales of scales. Following the collapse of the insiders’ allegations in the Libra and the emergence, co -founder of Meteor Ben Chow resigned.

A month later, Argentine lawyer Gregorio Dalbon formally sought Davis International Detention; Since June 2025, Interpol has not yet approved a red notice.

In a twitterExchange Jupiter based in Solana said the launch of the scales was “open secret” In circles of meme coin. Exchange said she found No evidence Insayer trading or “sniper” members of its own team after an internal investigation, adding that the company takes requests for insider trade “extremely serious”.

“Memeco’s moving game is a dirty game with a lot of ugly behavior,” Jupiter wrote. “However, we have nothing to hide.”

“We were completely aware of the jobs between the Director, in this case Milei and the market manufacturer, and we were not involved in this in any way, the shape or the shape,” Jupiter added.

According to a report Only 14% of the Vaga investors returned profit, earned $ 180 million together from the launch of Token, while 86% of those who invested in the scale lost $ 251 million.

Significantly, according to data from Nansen, two wallets who bought $ Libra at 10:01 pm and sold 22:44 UTC on February 14, collectively profited $ 5.4 million, with one wallet, Hyzgo2, pocket $ 5.1 million. In the meantime, Bastool Sports founder Dave Portnoy lost $ 6.3 million with a scales in Libra, but later returned $ 5 million.

This article was published in February 2025 and updated in June 2025.