Libra (LIBRA)
Loading...
Loading...
About LIBRA
The Libra token (LIBRA) is a Solana-based memecoin that gained international attention in February 2025 after Argentine President Javier Milei briefly promoted it. Marketed as a project to stimulate Argentina's economy by funding small businesses, LIBRA's value surged to over $4.50 before crashing below $0.20 within hours, leading to significant investor losses and allegations of fraud. The incident, dubbed 'Libragate,' has sparked political turmoil in Argentina, including calls for President Milei's impeachment and legal investigations into potential misconduct. The controversy has also impacted the broader cryptocurrency market, contributing to a decline in Solana's (SOL) price. President Milei has denied any wrongdoing, stating he merely 'spread the word' about the token without endorsing it. Ongoing investigations are examining the roles of various individuals and organizations involved in the LIBRA project.
Convert Fiat to Libra
News
Bitcoin Goes Mainstream: Highlights From the Bitcoin 2025 Conference
The three-day conference drew more than 35,000 attendees, 400 exhibitors, and 500 speakers to the Venetian Resort in Las Vegas, Nevada. Key Observations From the Largest-Ever Bitcoin Conference Something big is brewing when a sitting U.S. Vice President, a convicted…
Trump-Linked Truth Social Bitcoin ETF Filed With SEC
The Truth Social Bitcoin ETF storms onto Wall Street as NYSE Arca files with the SEC, fusing Trump branding with crypto exposure in a regulated investment vehicle. Bitcoin ETF Branded With Trump’s Truth Social Seeks SEC Approval NYSE Arca Inc.…
XRP Price Watch: Oscillators Signal Caution Despite Bullish Scalping Setup
XRP traded at $2.25 on June 4, 2025, with a market capitalization of $131 billion and a 24-hour trading volume of $2.26 billion. The intraday price ranged between $2.23 and $2.28, suggesting constrained volatility ahead of a potential breakout. XRP…
Bitwise CIO: Bitcoin Can Boost Returns Without Raising Portfolio Risk
Digital asset manager Bitwise’s chief investment officer, Matt Hougan, suggests reallocating portfolios to include bitcoin alongside reduced equity and bond exposure could enhance returns while mitigating risk. Bitwise CIO Urges Investors to View Bitcoin Through Total Portfolio Lens The Bitwise…
Zircuit Joins Binance Alpha: ZRC Airdrop and Trading Competition Go Live
This content is provided by a sponsor. PRESS RELEASE. George Town, Cayman Islands, June 4th, 2025, Chainwire. Zircuit, the chain where innovation meets security, has been featured on Binance Alpha, Binance’s exclusive platform for spotlighting the most promising early-stage Web3…
Frequently Asked Questions about Libra
What is the Libra token (LIBRA)?
The Libra token (LIBRA) is a memecoin built on the Solana blockchain. It was introduced with the declared goal of boosting Argentina's economy by funding small local businesses. However, it gained notoriety in February 2025 after a rapid price surge followed by a sharp decline, leading to significant investor losses.
Why did the LIBRA token crash?
The LIBRA token experienced a dramatic price drop shortly after its launch in February 2025. The crash occurred when insiders reportedly withdrew $107 million in liquidity, causing the token's value to plummet by 94% and erasing $4 billion in market capitalization within hours. This event has been characterized as a 'rug pull' scheme.
What was President Javier Milei's involvement with LIBRA?
Argentine President Javier Milei briefly promoted the LIBRA token on social media, suggesting it could support economic growth by funding small businesses. Following the token's collapse, Milei deleted his promotional post and denied endorsing the project, stating he merely 'spread the word' without full knowledge of its details.
What is 'Libragate'?
'Libragate' refers to the scandal surrounding the LIBRA token's rapid rise and fall, which has led to political and legal repercussions in Argentina. The incident has prompted calls for President Milei's impeachment and investigations into potential fraud and misconduct associated with the token's promotion and subsequent crash.
How has the LIBRA incident affected the cryptocurrency market?
The LIBRA token scandal has had a negative impact on the broader cryptocurrency market, particularly affecting Solana (SOL), the blockchain on which LIBRA was built. Following the incident, Solana's price experienced a significant decline, reflecting decreased investor confidence.
How is FBI involved in the investigation following the LIBRA token collapse?
An Argentine law firm has filed a complaint with the U.S. Department of Justice (DOJ) and the Federal Bureau of Investigation (FBI), requesting an investigation into the individuals behind the LIBRA token and President Milei's role in its promotion. This action indicates the international ramifications of the scandal.