jakiro
——LIBRA coins plummeted by 80%. Who is caring and who is crying?
1. Is it an innovation or a scam when the president comes to issue coins himself?
On February 15, 2025, Argentine President Javier Milei announced the launch of the Meme coin called LIBRA through official social media, claiming that the move will “promote Argentina’s economic growth” and directly announced the token contract.address.As soon as the news came out, LIBRA price soared to $4.96 in a short time, and its market value once approached $5 billion.However, within just a few hours, its price halved to $0.6 and its market value shrank to less than $1 billion, staged a “roller coaster” farce.
What is even more vigilant is that this operation is questioned and “the authenticity of the account is questionable.”Some media pointed out that Milai’s social account has previously made controversial remarks, and the issuance of coins may be caused by hackers’ account theft, but the official has not yet made a clear response.
2. The president’s endorsement ≠ security guarantee, the routine of cutting leeks is upgraded
1. “Celebrity Effect” becomes a sickle
Mile is not the first politician to get involved in cryptocurrencies.In January 2025, former US President Trump launched his personal Meme coin **TRUMP*. His market value soared by 1,250% on the day of its launch, and his trading volume exceeded US$5 billion.However, this type of token often lacks actual value support and relies solely on celebrity traffic speculation, and eventually becomes a “harvest tool”.
2. Speculation carnival in economic difficulties
Argentina has been deeply trapped in the debt crisis and inflation quagmire in recent years, and the government has even eased fiscal pressure through radical policies such as cutting public spending by 30% and closure of institutions.Against this background, the president uses “cryptocurrency to save the country” as a gimmick, which can easily incite people’s speculation and cover up the weakness of economic governance.
3. Risk out of control under regulatory vacuum
Although Argentina has discussed cryptocurrency cooperation with El Salvador, experts stressed that the country’s full adoption of digital currencies is extremely feasible, and complex debt problems and financial system limit the implementation of policies.The sudden launch of LIBRA coins has neither a clear regulatory framework nor a technical white paper is disclosed, and it is more like an “improvisation”.
3. Historical lessons: From Trump to the Central African Republic
1. Trump’s family issued coins: a “gray carnival” of political power and business interests
Trump’s wife Melania followed Trump’s issuance of coins and then launched the **MELANIA coin, causing the price of TRUMP coin to halve and its market value to evaporate by US$7.5 billion in 10 minutes.Under the violent market fluctuations, more than 260,000 investors broke their positions within 24 hours, causing heavy losses.Although Trump claimed that the move was “supporting cryptocurrency innovation”, experts pointed out that its essence was “predatory financial instruments”, attracting retail investors to take over through political halos, and eventually cashing out and leaving the scene.
2. The “rough experiment” of the President of the Central African Republic: CAR currency and regulatory vacuum
In February 2025, President of the Central African Republic Fostertan Alshange Tovadra launched the Meme Coin**CAR**, claiming to “promote national development through crypto assets.”However, the investigation found that the token’s official domain name was registered for only 4 days, and 80% of the tokens were concentrated in 6 related addresses, the source of funds was Binance Exchange, and the technical security measures were almost zero.Cosine, founder of Slow Mist, pointed out that the risk of carrying viruses on the official website is extremely high.
Although the Central African Republic is the second country after El Salvador to use Bitcoin as its fiat currency, its economic foundation is weak and its per capita GDP is at the bottom in the world.The president’s issuance of coins is questioned as “using poverty-stricken national conditions to cover up financial speculation”, and may even be the cause of hackers’ account theft.
4. Be alert!The ‘politicization trap’ of cryptocurrencies
Mile’s LIBRA coins are ostensibly under the banner of “economic innovation”, but in fact they may hide multiple risks:
Policy contradiction: The Argentine government has only allowed Bitcoin payment in specific scenarios before, which is far from reaching the level of fully supporting cryptocurrencies. This issuance of coins runs contrary to existing policies.
Sovereign Credit Overdraft: If the LIBRA currency eventually collapses, national credit will suffer a heavy blow, further aggravating economic turmoil.
People’s wealth evaporates: Ordinary investors blindly follow the trend, and may suffer heavy losses due to price plummeting, and ultimately pay for the “experiment” of politicians.
Conclusion
Cryptocurrencies should not be a tool for politicians to divert contradictions and reap public opinion.From Trump’s TRUMP to Mile’s LIBRA, behind the so-called “presidential project” is the conspiracy between capital and power, and it is also the wealth trap of ordinary people.
Investment warning:
Stay away from Meme coins that have no actual value and are purely hyped;
Beware of politicians and celebrities’ endorsement projects and rationally analyze the underlying logic;
Remember – high returns are accompanied by high risks, and the myth of getting rich is mostly an abyss.
