Nearly $58 million in USDC has been frozen in connection with the LIBRA memecoin scandal, deepening the legal and political fallout from one of this year’s biggest crypto scandals. On May 29, blockchain analytics firm Arkham reported that Circle, the issuer of USD Coin (USDC), froze two Solana (SOL) wallets tied to the LIBRA deployer … Read more
The fallout from the $LIBRA cryptocurrency collapse is quickly turning into a full-blown political and legal crisis in Argentina. At the center of it all is President Javier Milei, whose public support for the token earlier this year is now under intense scrutiny. What started as a flashy meme coin promotion has spiraled into asset … Read more
The LIBRA token came under fire earlier this year. Reports link it to a rug pull scam that cost investors around $107 million. Some reports also suggest a connection to President Javier Milei, adding more weight to the controversy. In a tense session, lawmakers voted 128–93 to form a commission to probe the case. They … Read more
Argentina’s Chamber of Deputies has approved a formal investigation into the LIBRA memecoin scandal after the token’s collapse wiped out over $280 million in value from nearly 75,000 traders. In a special session held Apr. 8, lawmakers backed three resolutions aimed at uncovering the truth behind the controversial token’s launch and rapid crash. The first … Read more
Burwick Law has filed a class action lawsuit in New York against Kelsier Ventures, KIP Protocol, and Meteora, accusing them of running a deceptive launch in the LIBRA token scandal. According to the lawsuit filed on Mar. 18, the token’s developers secretly manipulated liquidity to defraud retail traders of millions of dollars while misleading investors … Read more
Authorities in Argentina are reportedly looking to initiate the arrest of Hayden Davis, who was allegedly involved in pump-and-dump schemes for at least two memecoins. An Argentinian prosecutor has filed a request with a judge to issue an Interpol “Red Notice” – or an international arrest warrant – for Davis because of his involvement with … Read more
How did a meme token backed by a world leader soar to a $1.16 billion market cap, only to crash by 95% within hours? A new report published on Friday by DWF Labs sheds light on the launch and collapse of $LIBRA. Libra (LIBRA) is a meme token on Solana that skyrocketed to a market … Read more
The memecoin market saw a 5% boost in overall market cap not long after a prosecutor said he wants to freeze $110 million as part of an investigation into the LIBRA meme coin scandal. On March 6, the overall market cap for memecoins nearly reached $62 million, surging by 5% in the past 24 hours … Read more
Solana briefly crossed over the $180 threshold after it rose by 4.3%. This is the first time SOL has gone over $180 since its LIBRA-induced slump. On Feb. 21, Solana (SOL) reached a daily high of $180.19. The last time the token reached beyond the $180 threshold was on Feb. 18, right before it plummeted … Read more
Did you see that LIBRA launched a week ago with backing from Argentinian President Javier Milei? He initially made several posts supporting it but later deleted them, withdrawing his endorsement. It turns out there’s a good explanation. A group of so-called grifters, mostly based in Los Angeles, USA, known as Vape Cabal on “Crypto X,” … Read more