The article discusses the launch and subsequent downfall of the Argentine President Javier Milei's memecoin, LIBRA. It highlights that viral memecoins often experience a pump and dump situation, and insiders, including celebrities and key opinion leaders, often trade on insider information. The article also mentions the resignation of the CEO of Jupiter-linked DeFi platform Meteora and the negative impact on Argentina's stock market and Solana's value. Despite the controversy, the article suggests that memecoin trading will likely continue unaffected.



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