It was another Friday night surprise in the meme coin trenches.
Echoing Trump’s move from last month, Argentina’s President Javier Milei tweeted out a new meme coin on Friday, saying it would help support small businesses in the country. Traders flocked to snap up Solana token LIBRA on its way up to a nearly $4.5 billion market cap.
And then the tide turned. Following initial concerns over whether Milei’s account was hacked (it wasn’t), on-chain analysts then pointed to a number of red flags around LIBRA, including a vast majority of the supply being concentrated within a cluster of linked wallets, plus those wallets apparently withdrawing liquidity en masse.
After LIBRA had plunged more than 85% from its peak price, Milei deleted the tweet and said he wasn’t fully briefed on the details behind the Solana meme coin. LIBRA has only fallen further since, now down 96% from the top.
Argentina’s President Javier Milei Launches Solana Meme Coin—LIBRA Crashes 89%
A Solana meme coin shared by Argentina's President Javier Milei skyrocketed Friday, then collapsed. Here's what you need to know.
This Week in Bitcoin: ETF Flows Turn Red, SEC Hack Plea and GameStop Considers Buying
Bitcoin hasn't moved in price much over the past week as investors pulled cash out of the American ETFs—and GameStop could reportedly buy in.
FBI Says 'Operation Level Up' Stopped Crypto Fraud Victims From Losing $285 Million
The Federal Bureau of Investigations claims its Operation Level Up has stopped victims from losing $285 Million to crypto fraud.
Wisconsin Boosts Bitcoin ETF Holdings, Going All-In on BlackRock
The State of Wisconsin Investment Board has bought more Bitcoin exposure via shares in BlackRock's ETF, an SEC filing shows.
LIFT Network’s Real-Time AI Agents Understand Soccer’s Offside Rule
With LIFT’s AI Machines, non-technical users can deploy AI agents to analyze and act on real-time data streams.
(Sponsored post by LIFT Network)
From our partner
Introducing Grayscale Bitcoin Miners ETF (ticker: MNRS). MNRS provides exposure to Bitcoin Miners and the global Bitcoin Mining industry at a time when we’re seeing unprecedented interest and growth in Bitcoin.
Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Fund, please call (866)-775-0313 or visit our website at etfs.grayscale.com/mnrs. Read the prospectus or summary prospectus carefully before investing. MNRS is distributed by Foreside Fund Services, LLC and Grayscale Advisors, LLC is the adviser.
💬 Quote of the Day
❝
“I don't think we should force team members to 'fall into the party line.’”
Introducing MYRIAD’s Diamond Hands Poker event in collaboration with Abstract and Social Poker! MYRIAD’s first step into real money markets where you can wager $PENGU on players, hands and many more!
🎮️ GG: 'Ahead of Their Time': Meebits Ethereum NFT IP Sold as New Owner Reveals Bits Rewards
Bored Ape Yacht Club creator Yuga Labs just sold off the Meebits IP, which it acquired from Larva Labs in 2022.
🤖 EMERGE: Elon Musk Says His New AI Chatbot Is 'Scary Smart'—And Arriving in Weeks
Elon Musk claims Grok-3 has found solutions “you wouldn't even anticipate,” and that the AI chatbot features an uncensored “unhinged mode.”
🎭️ SCENE: Someone Just Won $100K in Bitcoin From a $50 Pack of Trading Cards
A $50 pack of crypto-themed Cardsmiths trading cards turned into a $100K Bitcoin windfall for one lucky buyer.
From our partner
Crypto companies need loyalty marketing to build lasting engagement and reduce liquidity shifts driven by hype and volatility. For sustainable growth, delivering rewarding experiences and personalized engagement is key.
This is why Absolute Labs Web3 CRM is a must-have for your loyalty strategy.
A research lab gained popularity in the crypto sphere after its experiment on a rat called Pythia went viral, with a meme coin community rallying behind it. Pythia has a chip that is hardwired to his brain which is connected to an AI model that translates human languages into brain impulses. As a result, Pythia can answer questions that require yes or no answers.
🎓️ LEARN: What Is Cardano? Inside the Third-Generation Blockchain
Cardano is a third-gen blockchain using proof-of-stake to enhance scalability, security, and governance.
