Argentina’s Memecoin Disaster

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Argentina’s president Javier Milei has been rocked by a scandal over his promotion of a memecoin called $LIBRA which soared in value before collapsing last week, triggering lawsuits and calls for impeachment.

Buyers of the cryptocurrency accused the coin’s creators of – what is known as a “rug pull” scheme, a type of crypto pump and dump scheme – where the promoters draw in buyers, only to stop trading and make off with the money raised from token sales.

The same team who launched the Argentina linked meme token are also behind Donald Trump’s wife’s Melania Coin – which performed similarly.

In today’s video we discuss whether elected representatives should be involved in cryptocurrency investments.

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