The post Lessons from Argentina’s $LIBRA Scanda appeared on BitcoinEthereumNews.com.

Argentina’s $LIBRA scandal, tied to President Javier Milei, rocked the crypto world in February 2025. Hyped as an economic savior, the memecoin hit a $4.5 billion market cap before crashing over 90% amid insider trading revelations. This mess, now under legal scrutiny, has sparked a reckoning for meme coins. Drawing from opinions by Nic Carter,  a partner at Castle Island Ventures and Coinbase CEO Brian Armstrong, this article cuts through the noise to explore why memecoins are faltering and what’s next for crypto. The $LIBRA Lesson: Meme coins as a Rigged Game $LIBRA’s collapse wasn’t just bad luck—emerging as one of promising Solana meme coins to invest, it exposed meme currencies as a rigged casino. Launched with Milei’s endorsement, $LIBRA price soared 3000%  to an ATH of $4.5. However, the token crashed 90% as insiders cashed out $107 million, leaving retail investors burned. The fallout? Lawsuits, an impeachment push, and a stark warning about the sector’s flaws. Nic Carter: Meme coins Are Done Nick Carter’s take is blunt: “Memecoins are unquestionably over.” He argues their “fair launch” promise—where anyone could win big—was a lie. $LIBRA, spiking to $4 billion in minutes, proved insiders ran the show, sniping launches and trading on secrets. Carter credits Hayden Davis for exposing this corruption, even if controversially. He predicts memecoins will fade as scandals pile up, with regulators targeting insiders using blockchain trails. Instead, he sees a shift to saner token launches and platforms like Echo, plus a “flight to quality” where real utility trumps hype. Brian Armstrong: Sees  A Bigger Picture in Meme coins Brian Armstrong, Coinbase’s CEO, sees memecoins differently. He calls them a “canary in the coal mine” for tokenizing everything—art, votes, you name it. Not a trader himself, he says Coinbase will list them if legal, but with clear info…

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Filed under: News - @ February 20, 2025 10:25 pm