Argentina’s president unveils LIBRA token with 82% supply unlocked across connected wallets
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Key Takeaways Argentina’s President Javier Milei announced $LIBRA as a digital token to support small businesses and stimulate the economy. The $LIBRA token is linked to KIP Protocol, a web3 framework for AI, with partnerships involving national governance. Argentine President Javier Milei has introduced a token named LIBRA, designed to stimulate the economy by funding small businesses. However, the launch has raised concerns, as 82% of the token supply is already unlocked across multiple connected addresses—a factor that may indicate centralized control or potential manipulation. another presidential meme 82% of $LIBRA is held in one cluster no tokenomics shared—trade with caution https://t.co/Nx4Ar2kqoL pic.twitter.com/VUCtpKi5mU — Bubblemaps (@bubblemaps) February 14, 2025 Some observers have even speculated that Milei’s Twitter account could have been hacked—a scenario not uncommon in the crypto world. Notably, he also shared the news on his Instagram account. LIBRA has reached a fully diluted valuation of $4.5 billion within hours of its launch. source: Dexscreener At the bottom of the project’s website is a note reading, “Private Initative project Developed by KIP Network Inc © 2025.” This ties LIBRA to KIP Network Inc. and its associated KIP Protocol, a Web3 framework for AI applications. KIP Protocol, backed by Animoca Ventures, has recently been active in Argentina, joining the blockchain committee of the Buenos Aires City Government and meeting with President Milei last October. KIP Protocol marks historic milestone in LATAM expansion 🔥 Tech Forum in Argentina was one for the books! Our Co-Founder and CEO @julian_kip met with President Javier Milei to outline how KIP’s decentralized AI technology aligns with Argentina’s vision to become a global tech… pic.twitter.com/Bqk3zjZS7f — KIP Protocol (@KIPprotocol) October 25, 2024 Industry experts have highlighted the risks inherent in the token’s distribution model. Conor Grogan, Coinbase’s head of product, urged caution, noting that established launches…
Filed under: News - @ February 14, 2025 11:25 pm