Supported by Argentina President Javier Milei on social media, the meme coin named LIBRA rapidly gained a value of $4.5 billion but swiftly plummeted following Milei’s deletion of the post. This incident caused a significant disappointment among cryptocurrency investors. REACHED A VALUE OF $4.5 BILLION LIBRA coin, launched with Milei’s dog’s name, quickly gained popularity in its initial hours. The project, reaching a value of $4.5 billion within just an hour, instilled great hopes in investors. However, immediately after this swift rise, the coin’s value dramatically dropped. The value fell to as low as $200 million within hours, resulting in significant losses for many investors. MILEI TWEETED THEN DELETED Upon facing opposition’s reactions, Milei deleted the supportive post for LIBRA coin and announced that he did not know the project’s details, hence withdrawing his support. However, this explanation did not quell investors’ reactions. Many blamed Milei for their significant losses and the trust in the project quickly eroded. Argentina’s President made the following statement on their official account: “I thought that I supported this project as a private initiative so I shared it. However, after learning the details, I chose not to allow it to spread, hence I deleted the tweet. We once again see how despicable politicians are who try to exploit this incident for their own benefit.” $107 MILLION WITHDRAWN Analysis platform Lookonchain claimed that eight wallets linked to LIBRA meme coin withdrew a total of $107 million. Many crypto experts revealed that individuals quickly bought after Milei’s tweet, sold when the price rose, making more than $20 million in profit. NEW DEBATES IN CRYPTO WORLD This incident once again highlighted how risky meme coin projects can be. LIBRA coin’s collapse resonated globally, sparking new debates among cryptocurrency investors. This scandal involving Milei also brought the role and influence of political figures in the cryptocurrency market to the forefront. TRUMP TOKEN SIMILARITY U.S. President Donald Trump had launched a meme coin bearing his name. Initially attracting great interest and gaining value, the coin swiftly experienced significant fluctuations, leading to a rapid decrease in its value.