![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
Cryptocurrency News Articles
Libra (LIBRA) Sparks Massive Controversy in the Crypto Market
Feb 19, 2025 at 02:53 pm
Following allegations surrounding Argentine President Javier Milei, Libra (LIBRA) has stolen the spotlight in the crypto market. This controversy mounted when Milei promoted the Solana-based memecoin and later reposted a tutorial to help people purchase it.
The crypto market is buzzing with discussions about key assets, and some tokens are experiencing a surge in mentions due to controversies and market movements.
According to Santiment, the cryptocurrencies seeing the highest rises in discussion compared to their normal average rates are:
1) Libra ($LIBRA): Discussions erupted involving the scandal involving Argentine President Javier Milei and the promotion of a Solana-based memecoin #LIBRA. The surprising part of this story is the involvement of the solana-based memecoin.
2) Solana (SOL)
3) Melania (MELANIA)
4) Ethereum (ETH)
5) Fort (FORT)
6) Storj (STORJ)
The increased interest in these cryptos stems from legal developments, trading speculation, and ecosystem-wide effects.
Libra (LIBRA) Sparks Massive Controversy in the Crypto Market
Following allegations surrounding Argentine President Javier Milei, Libra (LIBRA) has stolen the spotlight in the crypto market. This controversy mounted when Milei promoted the Solana-based memecoin and later reposted a tutorial to help people purchase it.
Amid his involvement, a sharp rise in the token’s price was seen, skyrocketing to $4.5B fully diluted valuation (FDV) before collapsing. This instance also brought about fraud accusations against the involved parties.
The liquidity pool of Libra crypto was reportedly managed one-sidedly using Meteora. At market highs, a sizeable sum of money was also taken out. Approximately 95% of the tokens were distributed to the project staff and insiders.
Kelsier Ventures is said to have earned over $110 million via liquidity provisions and direct sales. After the collapse, the token’s market capitalization fell to $300 Million, followed by lawsuits in Argentina.
The public has raised doubts about the activities of key opinion leaders (KOLs) who championed the token. The team gave out allocations to select individuals before the launch date. Still, certain users did not communicate their awareness despite owning this information.
Several sources show that media personality Dave Portnoy demonstrated support for the token but subsequently got back all his investment money. The Kelsier Ventures website features multiple influencers, termed partners, generating additional speculation regarding the token.
Notably, analysis by Coffeezilla through an interview confirmed that Hayden Davis was the main force behind Kelsier Ventures. At the same time, the interview exposed him as an essential player who facilitated the creation of coins.
Hayden Davis admits that insiders were offered $TRUMP presale @ 500m at the DC VIP Crypto BallChooserich Nick running around on cloud 9 at the dinner boasting he’s the richest person there with $TRUMP cointhe self-incriminating idiocy on the timeline is to be studied
Kelsier was also tied to past scams involving Melania and Trump tokens. Evidence showed that individuals received pre-launch TRUMP tokens valued at $500 million FDV.
Solana (SOL) Faces Fallout
Solana (SOL) remains a focal point as traders react to the broader implications of memecoin activity within its ecosystem. The Libra controversy has fueled skepticism regarding the legitimacy of Solana-based tokens in the crypto market.
Many users debate whether such assets contribute to long-term market credibility. Some traders suggest that memecoins on Solana are particularly susceptible to price volatility and potential market manipulation.
The Libra incident has caused some effects on the Solana ecosystem, as its native asset had a 10% decline. Compared to Ethereum and Binance Coin, Solana appears to have lagged behind these assets.
The network’s DeFi projects have also lost 10% to 20%. Depending on the specific project, meme and AI-linked tokens lost 20% to 40%, among other things.
Key market participants addressed the situation. This included Meteora, Jupiter, and Moonshot, who all denied involvement in insider trading.
Meteora’s CEO spoke with Kelser Ventures a few weeks before the Libra launch. This led to speculation that the CEO must have known about the future.
There have also been questions about the previous token launches within the Solana ecosystem and the underlying transparency about them.
Rising Mentions of Ethereum, Fort, and STORJ Amid Market Activity
Elsewhere, per Santiment, Ethereum (ETH) has seen a rise in mentions due to increased market activity. Conversations highlighted its performance in comparison to other leading cryptocurrencies.
Investors are analyzing the Ethereum price fluctuations and its role in the evolving financial landscape. This led to higher engagement across trading forums and social media platforms.
Due to the debates concerning Fort Knox’s gold stockpile, Fort Crypto has garnered interest from investors. Elon Musk and other public figures are actively supporting Fort Knox’s inventory information more transparently.
Hence, people are making funny and serious guesses about audits of U.S. gold reserves, and they are connecting these concerns to earlier worries about American gold stocks.
STORJ has gained increased altcoin activity. This is due to
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- Sleep Token are back with Even In Arcadia, their fourth album and first under RCA Records, set for release on May 9.
- Mar 16, 2025 at 01:05 pm
- The album follows their acclaimed third album,Take Me Back to Eden. To celebrate the announcement, the group has unveiled their new single, “Emergence,” which is also available on seven-inch vinyl.
-
-
-
-
-
-
- ADA price analysis: As the weekend approaches, the overall cryptocurrency market has begun to output: to recover, showing signs of an upward rally.
- Mar 16, 2025 at 12:45 pm
- According to expert technical analysis, ADA has formed a bullish inverted head and shoulders pattern and is now on the verge of a breakout.
-
-
- Bitcoin [BTC] Options market exhibits moderately bullish sentiment, as reflected by the call-to-put Open Interest ratio
- Mar 16, 2025 at 12:45 pm
- The Call Open Interest stood at 11873.52 contracts at press time, surpassing Put Open Interest at 8594.58 contracts, resulting in a put/call ratio of 0.72. This means that more traders have been betting on BTC's price hike shortly.