$LIBRA (Argentina memecoin)

Summary

$LIBRA was a Solana memecoin created by the Delaware-registered firm Kelsier Ventures, led by American crypto marketer Hayden Davis. On February 14, 2025, Argentine President Javier Milei promoted it on X as part of a "Viva La Libertad" project; the token's market capitalization briefly exceeded $4.5 billion before collapsing. Reporting widely describes the event as a "rug pull" with roughly $251 million in investor losses. ^[1][2]

What happened

A small number of insider-linked wallets held a large share of supply and sold shortly after the promotion, crashing the price by roughly 85–96% within hours and affecting an estimated tens of thousands of buyers. Davis later admitted in an interview that he profited on the order of $100 million from the launch. ^[1][2]

Aftermath

Milei deleted his post hours later, said he had not been fully informed of the project's details, and became the subject of an anti-corruption investigation; he denies wrongdoing. The matter remains under judicial investigation, and the U.S. SEC was reported to have opened a preliminary inquiry. ^[1][2]

Bracketed numbers refer to the numbered sources listed below.