The latest incident involving the apparent rug pull of the LIBRA token has negatively affected the Solana memecoin ecosystem, according to Galaxy Research. The introduction of the TRUMP token in January had already soured the narrative, causing a "liquidity suck." The launch of LIBRA could further damage the memecoin complex and reduce the need for investors to hold Solana's sol (SOL) cryptocurrency. Solana has seen a significant drop in value in USD terms and compared to rival ether (ETH) since the launch of LIBRA. Argentina's President Javier Milei, who promoted LIBRA, is facing impeachment threats after the token's market cap crashed 90%. Hayden Davis, CEO of Kelsier and creator of LIBRA, also claimed responsibility for the MELANIA token and stated that his team sniped both cryptos as soon as the contract addresses went live. He denied that LIBRA was a rug pull but acknowledged that the plan went wrong and left $100 million in his custody.



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