$LIBRA
$LIBRA is a cryptocurrency created on February 14, 2025, as part of the “Viva La Libertad” project. The cryptocurrency was promoted by the president of Argentina, Javier Milei, who through his verified social networks, where the crypto code was included to access the purchase of the asset.[1]
| $LIBRA | |
|---|---|
| Development | |
| Latest release | 16 months ago |
| Development status | Active |
| Website | www |
| Ledger start | 16 months ago |
Search $LIBRA on Amazon.
The companies that developed the cryptocurrency are KIP Protocol of Panama, directed by Singaporean Julián Peh, and Kelsier Ventures, owned by Hayden Mark Davis. The cryptocurrency resulted in million-dollar profits for the founders and massive losses for the people who invested in it, unleashing a political scandal and allegations of fraud.
Overview
A few minutes after it was created, the value of the cryptocurrency increased by 1,200%, going from 0.000001 to $5.20, to immediately collapse and lose almost all of its value. According to the Solana platform, three hours later, the nine founding accounts of the cryptocurrency earned $286 million at the expense of 74,000 people who invested in the cryptocurrency and watched its value disappear, in an operation with characteristics of an exit scam.
At 7:40 p.m. Argentina time, the cryptocurrency reached a value of 4.4 billion US dollars before collapsing and losing 95% of that value: the well-known site Coin Desk, specialized in bitcoin and digital currencies, described the operation as "the largest and fastest destruction of wealth in the history of commerce." On February 15, American businessman Hayden Mark Davis, also known as Kelsier, owner of the company Kelsier Ventures, presented himself publicly on his X channel. Davis presented himself as “part” of the $LIBRA project and “advisor” to Milei, blamed the Argentine president and his team for “withdrawing his support” to the project “despite previous commitments” and promised to raise all the dollars he can to “reinject” them into $LIBRA.
References
- ↑ "Javier Milei's crypto misadventure". The Economist. ISSN 0013-0613. Retrieved 2025-02-22.
This article "$LIBRA" is from Simple English Wikipedia. The list of its authors can be seen in its historical and/or the page Edithistory:$LIBRA.
