Argentine president creates meme token and renounces it

Last night, Argentine President Javier Milei posted a message on Twitter (X) containing the contract for a cryptocurrency memecoin called LIBRA. This move immediately attracted the attention of crypto investors, and the token's value soared.

Rise and fall

Within a short period, the market capitalisation of LIBRA reached $4.59 billion. However, Milei soon deleted the tweet and stated that he had no connection to the token and saw no point in continuing the project.

In addition, the Argentine leader hinted that his opponents were trying to use the situation in the political struggle.

After the post was deleted, the LIBRA price crashed, losing 96% of its peak value.