I remember scrolling X and seeing Milei’s face next to some dog meme and thinking, is this what political leadership looks like now.
My image was generated with AI
The president of Argentina, with a whole country to run, using his personal account to promote a Solana-based coin named LIBRA.
The official word now is that he did nothing wrong. Didn't do it as president, just as some guy with opinions.
Unfortunately a few people got very rich and most lose their investment. According to on-chain data from coindesk.com, it says 86 percent of traders lost, and those left made $180 million.
Now my point here is if you believe that a politician can just switch hats when it’s convenient and promote a risky coin, then you've just made it impossible or pretty difficult for the citizens to know where the line is. The same account got him into office, now you're telling me it’s just an “economist’s” opinion, not the president speaking.
Then there’s Hayden Davis the mastermind behind the whole damn thing, who brags in messages about sending payments to Milei’s sister. Karina isn’t some random person, she has power.
The story feels very bizarre, but sadly the officials closed the investigation unit after it shared its findings.
The value of LIBRA obviously dropped by 90 percent within hours. That means the story just ends with people losing years of savings because someone with power thought a meme coin looked interesting, or wanted to help someone out. If you ask me I say he should at least help the investors with his own money and prove he can take responsibility for misleading people.
