Insiders Cash Out $107,000,000 in Crypto Before Memecoin Backed by Argentinian President Collapsed: Lookonchain
Insiders extracted over $100 million from crypto markets after Argentinian President Javier Milei backed the launch of a memecoin that was supposedly designed to support the growth of the country.
In a now-deleted post, Milei announced the launch of LIBRA, a token designed for “encouraging the growth of the Argentine economy,” along with a Solana (SOL) contract address.
LIBRA’s market cap went to $4 billion within hours before the price collapsed, and Milei backtracked his support of the coin.
Says Milei in Spanish,
“A few hours ago I posted a tweet, as I have so many other times, supporting a supposed private enterprise with which I obviously have no connection whatsoever.
I was not aware of the details of the…
