⚖️ Javier Milei cleared: Argentine court closes case over LIBRA meme coin
A federal court has dropped the case against President Javier Milei and entrepreneur Hayden Davis. They had been suspected of involvement in a $99 million rug pull scheme. In February 2025, a post by Milei on X sent the token soaring, after which its price plunged 90%. The court ruled that no crime had been committed: the president’s media influence does not prove fraud, and market volatility is not evidence.
📈 A Price Action perspective:
- Crowd manipulation: A textbook example of retail investors piling in during a vertical surge, without support levels, and handing liquidity to insiders. According to Chainalysis, wallets linked to the creators withdrew around $99 million from the pool.
- Clean charts beat the news: The investigation was closed before the on-chain analysis was completed, drawing criticism. The key lesson for traders: don’t trust tweets from politicians or bloggers. The only protection is systematic trend trading around strong historical levels.
💡 Bottom line: Steer clear of coins fueled by artificial hype. A clean chart always reveals the real footprints of large players.
A federal court has dropped the case against President Javier Milei and entrepreneur Hayden Davis. They had been suspected of involvement in a $99 million rug pull scheme. In February 2025, a post by Milei on X sent the token soaring, after which its price plunged 90%. The court ruled that no crime had been committed: the president’s media influence does not prove fraud, and market volatility is not evidence.
📈 A Price Action perspective:
- Crowd manipulation: A textbook example of retail investors piling in during a vertical surge, without support levels, and handing liquidity to insiders. According to Chainalysis, wallets linked to the creators withdrew around $99 million from the pool.
- Clean charts beat the news: The investigation was closed before the on-chain analysis was completed, drawing criticism. The key lesson for traders: don’t trust tweets from politicians or bloggers. The only protection is systematic trend trading around strong historical levels.
💡 Bottom line: Steer clear of coins fueled by artificial hype. A clean chart always reveals the real footprints of large players.
