Argentina's President Javier Milei initially supported the LIBRA meme token but later withdrew his endorsement, stating he had no connection to the project and had not done proper due diligence before tweeting his support. The token's value dropped 85% following reports of the project team's liquidation. Analysis shows that the token supply is centralized, with 82% held by a small number of addresses. This is not Milei's first involvement in a controversial crypto project, as he previously promoted the alleged crypto Ponzi scheme CoinX, which led to investors suing him for losses.



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