Javier Milei, the controversial President of Argentina, got caught up in a major pump and dump scheme in the digital currency market. His X Mili account promoted a meme coin based on Solana’s Libra late on Friday, but it seems he reconsidered his support shortly after and caused a sharp drop in the coin’s price by deleting his tweet. Initially, traders rushed to buy this coin, driving its market value to around $4.5 billion, but with the tweet deletion and increasing doubts about legitimacy and potential fraud, its price plummeted drastically. Libra has dropped about 95% since its peak a few hours after being announced on X. Data from DexScreener analytics platform shows that Libra reached $4.50 upon release, but has now crashed to under $0.20. This token recorded trading volume of around $1.1 billion within a few hours and its team has also sold off their tokens at its peak.
