LemmyLocal
  • Communities
  • Create Post
  • Create Community
  • heart
    Support Lemmy
  • search
    Search
  • Login
  • Sign Up
loathsome dongeater@lemmygrad.ml to Technology@lemmygrad.mlEnglish · 3 months ago

Javier Milei-endorsed memecoin does a $100 million+ rug pull

web3isgoinggreat.com

external-link
message-square
4
fedilink
36
external-link

Javier Milei-endorsed memecoin does a $100 million+ rug pull

web3isgoinggreat.com

loathsome dongeater@lemmygrad.ml to Technology@lemmygrad.mlEnglish · 3 months ago
message-square
4
fedilink
Argentinian president Javier Milei promotes memecoin that then crashes 95% in apparent $100 million+ rug pull
web3isgoinggreat.com
external-link
A tweet from Argentina's president Javier Milei promoted a memecoin called Libra, which he described as a "private project [that] will [be] dedicated to encouraging the growth of the Argentine economy by funding small Argentine businesses and startups". The token quickly soared in price as traders poured in.However, within hours of the launch, insiders began selling off their holdings of the token. The token had been highly concentrated among insiders, with around 82% of the token held in a small cluster of apparently insider addresses. Those insiders cashed out around $107 million, crashing the token price by around 95%.After the crash, Milei deleted his tweet promoting the project. He later claimed he was "not aware of the details of the project and after having become aware of it I decided not to continue spreading the word (that is why I deleted the tweet)."
  • 小莱卡@lemmygrad.ml
    link
    fedilink
    English
    arrow-up
    10
    ·
    3 months ago

    Yea i can’t feel any empathy for someone falling into a crypto scam at this point.

Technology@lemmygrad.ml

technology@lemmygrad.ml

Subscribe from Remote Instance

Create a post
You are not logged in. However you can subscribe from another Fediverse account, for example Lemmy or Mastodon. To do this, paste the following into the search field of your instance: !technology@lemmygrad.ml

A tech news sub for communists

Visibility: Public
globe

This community can be federated to other instances and be posted/commented in by their users.

  • 39 users / day
  • 146 users / week
  • 369 users / month
  • 623 users / 6 months
  • 1 local subscriber
  • 1.12K subscribers
  • 490 Posts
  • 1.32K Comments
  • Modlog
  • mods:
  • Muad'Dibber@lemmygrad.ml
  • BE: 0.19.8
  • Modlog
  • Instances
  • Docs
  • Code
  • join-lemmy.org