Eduardo Taiano, the Argentine prosecutor currently probing Milei and the Libra cooperators, has ordered the freezing of all LIBRA tokens involved in the case. Furthermore, the attorney is scrutinizing the activities of the addresses holding LIBRA that have also purchased other currencies. Argentine Prosecutor Advances Libra Probe: Mass Token Freezing Ordered The investigation of Libra, […] Source
The lead prosecutor investigating Argentine President Javier Milei’s alleged involvement in the LIBRA cryptocurrency scandal has requested the freezing of as much as $110 million in assets. Argentine Federal Prosecutor Eduardo Taiano has also requested the recovery of deleted social media posts, including those made by Milei promoting the Solana-based memecoin, according to local media outlet Clarín. He also requested detailed records of all LIBRA transactions since it launched with the aim of reconstructing financial operations conducted around Feb. 14 to 15, when the memecoin’s trade volume was highest. Taiano…
The LIBRA memecoin scandal that rocked Argentina over the weekend destroyed millions of dollars in investor wealth, according to research by Nansen. On-chain data tracked by Nansen show 86% of traders lost a total of $251 million, while the winners secured just $180 million in profits. In other words, it was a “net-negative wealth-generating” event that potentially sucked out liquidity from the market. The episode is a stark reminder that tokens associated with political figures can be just as risky as random memecoins and celebrity cryptocurrencies in making or breaking…
The latest frenzy that started with U.S. President Donald Trump’s TRUMP memecoin launch and saw traders making and losing millions within minutes, might have finally come crashing down with the LIBRA token fiasco. LIBRA, a Solana-based project that President of Argentina Javier Milei tweeted about on Feb. 14, saw its market cap rise as high as $4.5 billion and then fall more than 80% within a couple of hours as insiders cashed out, leaving many bag holders with massive losses. The story became an international and political incident over the…
The Bubblemaps team has unraveled the onchain trail linking the people behind Libra, the token endorsed by Argentine President Javier Milei, with MELANIA, another well-known meme token. Libra Comes Under Scrutiny: Bubblemaps Reveals the MELANIA Links The Libra scandal has given rise to a series of allegations about the responsibility of each party for the […] Source CryptoX Portal
Argentina’s President Javier Milei is facing impeachment threats after endorsing a cryptocurrency called LIBRA, purportedly intended to support small businesses, which instead crashed and lost billions of dollars in value within hours, according to Reuters. In a now-deleted late Friday post on X, Milei promoted LIBRA as a privately run project designed to raise money for small and medium-sized Argentinian companies, adding that he doesn’t stand to reap personal gain from the project. The token rapidly surged to a market capitalization of about $4.5 billion amid confusion over the legitimacy…
David Marcus, former head of Libra at Meta, described how the project ended at the hands of personalities in the high echelons of political power. He remarked that this happened even after satisfying the demands of lawmakers and regulators. David Marcus Tells How Libra Died for Purely Political Reasons David Marcus, the former head of […] Source CryptoX Portal
The Singapore-based Oak Grove Ventures’ team includes some notable figures including Sally Wang, formerly of Sino Global Capital (now Ryze Labs), Ethan Wang, former tech lead of Libra, Shawn Shi, co-founder of Alchemy Pay, as well as Michael Li, a former VP of Coinbase. Source
But in the grand scheme of things, PayPal’s project is in a far stronger position politically than the universally mistrusted Libra ever was. Republicans are thrilled that the payments company launched its stablecoin, known as PYUSD, at this moment. The bill’s sponsor, Rep. Patrick McHenry (R-N.C.), chairman of the House Financial Services Committee, called the move a “clear signal that stablecoins — if issued under a clear regulatory framework — hold promise as a pillar of our 21st-century payments system” and made it “more important than ever” to keep moving…
It’s also unclear exactly how “portable” Threads user data will be in practical terms. Critics have often described Mastodon, another platform that uses the ActivityPub protocol, as extremely clunky and non-intuitive, with moving from one server to another a particular challenge. It would be in Meta’s hands, it seems, to build tools that would make it easy for users to leave Threads, but that doesn’t seem in its financial best interest. And Meta, a publicly traded company, doesn’t do things that aren’t in its financial best interest. Original Source LibraMetathreads…