randomm

Massive Losses Emerge from Argentina’s LIBRA Altcoin Debacle

A scandal involving the LIBRA altcoin in Argentina has led to significant financial losses for investors. According to blockchain analysis firm Nansen, 86% of investors collectively lost $251 million, while the winners only gained $180 million. This incident highlights the risks associated with altcoins linked to political figures.

Investors quickly began purchasing the altcoin, with over 40,000 wallets investing in LIBRA. Its market capitalization surged beyond $4.5 billion. However, when insiders started selling off large quantities of the coin, the price plummeted suddenly. Within hours, LIBRA’s market value dropped by 90%.

Massive Losses Emerge from Argentina’s LIBRA Altcoin Debacle

A scandal involving the LIBRA altcoin in Argentina has led to significant financial losses for investors. According to blockchain analysis firm Nansen, 86% of investors collectively lost $251 million, while the winners only gained $180 million. This incident highlights the risks associated with altcoins linked to political figures.

Investors quickly began purchasing the altcoin, with over 40,000 wallets investing in LIBRA. Its market capitalization surged beyond $4.5 billion. However, when insiders started selling off large quantities of the coin, the price plummeted suddenly. Within hours, LIBRA’s market value dropped by 90%.

https://en.coin-turk.com/massive-losses-emerge-from-argentinas-libra-altcoin-debacle/