The collapse of Libra, a meme coin backed by Argentine President Javier Milei, has brought attention to the volatility and risks associated with celebrity-backed crypto projects. Similar crashes have occurred with other meme coins, including those associated with Donald and Melania Trump and the founder of Binance. This trend has been criticized for overshadowing legitimate projects in the crypto space. Libra experienced a dramatic rise and fall in its market cap, triggering concerns about insider trading and market manipulation. The crash has renewed calls for tighter crypto regulation and may lead to a shift towards more sustainable sectors like DeFi.



Other News from Today