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How the Libra Scandal Exposed Memecoin Insider Trading on the World Stage - Ep. 785
1 hour 8 minutes Posted Feb 18, 2025 at 1:00 pm.
How Dio heard about the launch of an Argentina-related memecoin two weeks in advance
Whether Argentines were the ones who actually lost money on the coin
How Kelsier Ventures’ Hayden Davis crashed the price of the token
How the story is being perceived in Argentina
Why Dio believes Argentine President Javier Milei was naive
Who the insiders were and what role they played
Why Dio says that insider trading is illegal even in crypto
How some of the insiders are “pathological liars,” according to Dio
Why Dio doesn’t believe Jupiter’s statement and is skeptical about the Meteora founder’s statement
Why Dio says Davis’ “strategy” was actually price manipulation
What should be done with the $100 million that Davis holds
How Milei could suffer politically because of the situation
What Dio thinks about Dave Portnoy’s refund
How it was disappointing that this scandal happened in a place with so much crypto adoption
What’s next for Milei and whether he’ll go through impeachment
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Show notes
Was Argentina’s president used to pump a memecoin? The launch of $LIBRA has turned into a political and financial scandal, with accusations of insider trading, bribes, price manipulation, and government ties to crypto influencers.In this episode, Diogenes Casares, a crypto trader with deep connections in both memecoins and Argentina’s crypto scene, exposes what really happened behind the scenes. He details how a network of market makers, influencers, and political insiders orchestrated the launch, how the price was manipulated from the start, and why he believes the entire operation was illegal.Casares also explains the potential legal consequences for those involved, the impact on President Javier Milei’s administration, and what all this means for the future of Solana memecoins.Show highlights:
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RockWallet
Mantle
Bitwise
Guest:
Diogenes Casares, a crypto trader from ArgentinaLinks
Unchained: Crypto Community Incensed by Insider Activity on LIBRA Memecoin Promoted by Argentina’s President
Coffeezilla interview: Argentina’s memecoin creator interview (LIBRA)
Bribes, Insiders and a Manipulated President | What Really Happened with $LIBRA by Diogenes Casares
Jupiter Exchange’s statement
Meteora’s Ben Chow’s statement
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