The article discusses the recent scandal involving the launch of the LIBRA meme coin and its impact on the crypto sector. The scandal involved Argentine President Javier Milei endorsing the coin, which led to a surge in its price followed by a crash. The investigation revealed links between the LIBRA token launch and other token launches associated with insider trading and market manipulation. The incident has raised concerns about the negative impact of meme coins on the industry and smaller investors. The article also highlights the need for self-criticism within the crypto industry and the importance of understanding the risks before investing in meme coins. The founder of Memeland, a meme coin platform, emphasizes that these schemes will become less frequent as the market matures and more legitimate players enter the space. Despite the controversy surrounding meme coins, the article suggests that they have a bright future and can drive further adoption in the crypto sector.



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