"The $LIBRA 'crypto fiasco' generated losses totaling 251 million dollars, according to data revealed by consulting firm Nansen. This cryptocurrency saw its value soar after its launch, promoted by Argentine President Javier Milei, only to then collapse, causing significant losses for investors. The specialized firm in cryptocurrency sector analysis indicated that 86% of investors who purchased $LIBRA ended up with losses, while the remaining managed profits of 180 million dollars.
Milei's announcement through social media, where he has a large following, caused an increase in sales and the value of $LIBRA, reaching a valuation of 4.5 billion dollars. However, subsequently, some investors sold their holdings at a high price, leading to a rapid drop in the asset's value, prompting Milei to delete his initial message.
According to Nansen, the price of $LIBRA reached a peak of 4.55 dollars per unit one hour after its creation, before experiencing an immediate decline. The firm stated that Milei withdrew his support for the project as negative reactions increased, already with an 80% reduction in price from its peak. Later, the Argentine president stated he was not familiar with the details of the project, which generated controversy.
The incident has had political repercussions in Argentina, with more than a hundred affected individuals filing legal complaints. The situation surrounding the $LIBRA 'crypto fiasco' has triggered a scandal that is being examined in the courts.
In summary, the launch and subsequent fall of $LIBRA have resulted in million-dollar losses for investors, causing a political and judicial uproar in Argentina. The rapid fluctuation in the value of the cryptocurrency and President Milei's actions have led to a complex situation that is under investigation.
