<p>The LIBRA token, briefly supported by Argentine President Javier Milei, has proven to be a financial disaster for the majority of its investors. According to a study conducted by a blockchain research firm, more than 13,000 traders suffered losses exceeding a total of $251 million.</p>
<h2 id="h-libra-a-sudden-frenzy-followed-by-a-brutal-crash">LIBRA: A Sudden Frenzy Followed by a Brutal Crash</h2>
<p>It all began on February 14, 2025, at 10:01 PM UTC, when the Argentine president expressed his support for LIBRA on social media. This message immediately triggered a surge in the token’s price, attracting a massive influx of crypto investors. Within hours, the price of LIBRA reached an impressive peak of $4.55. However, this meteoric rise was followed by an equally rapid fall, which <a href="https://www.cointribune.com/en/solana-loses-6-2-in-one-day-weighed-down-by-the-collapse-of-libra/" target="_blank" rel="noopener noreferrer nofollow">cost Solana 6.2% in one day</a>.</p>
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<p>The confusion was amplified by the contradictory statements from the project’s promoters. While LIBRA was initially presented as a financing tool for small Argentine businesses, one of the project’s officials, Hayden Davis, later referred to it as a mere “memecoin.” This statement cast doubt on the legitimacy of the project and contributed to the collapse of the crypto.</p>
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<h2 id="h-massive-losses-for-crypto-investors">Massive Losses for Crypto Investors</h2>
<p>Nansen’s on-chain data <a href="https://research.nansen.ai/articles/libra-the-aftermath" target="_blank" rel="noopener noreferrer nofollow">reveals</a> a concerning reality: of the 15,431 crypto wallets that recorded gains or losses exceeding $1,000, 86.07% suffered losses totaling $251 million. Furthermore, about 4,693 wallets recorded truly significant losses. Among them, 1,478 lost between $1,000 and $10,000, totaling $4.8 million. More than 2,800 wallets lost between $10,000 and $100,000 (totaling $82.4 million), while 415 others lost over $100,000, amounting to $137.4 million.</p>
<p>In contrast, 2,101 wallets recorded cumulative gains of $180 million. Notably, two active wallets between 10:01 PM and 10:44 PM UTC on February 14 made combined profits of $5.4 million! Suggesting possible prior knowledge of the events.</p>
<p>The LIBRA episode thus highlights the risks associated with investing in speculative tokens, often influenced by public statements such as <a href="https://www.cointribune.com/en/the-central-african-republic-is-launching-a-memecoin/" target="_blank" rel="noopener noreferrer nofollow">the memecoin from the Central African Republic</a>. It is also important to remember the necessity of thorough analysis before investing in crypto.</p>

LIBRA Token Fiasco: Over 13,000 Investors Left in Ruins

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