On February 14, the “Viva la Libertad” project launched its meme token, $LIBRA, on Solana, skyrocketing to a $1.16 billion market cap in its first hour, with a fully diluted valuation of approximately $4.5 billion. However, this surge was short-lived as the token collapsed by over 95%, wiping out nearly $280 million in value and impacting 75,000 traders. Dubbed the ‘Cryptogate’ scandal, the launch raised concerns over insider trading and market manipulation, with alleged ties to Argentinian President Javier Milei and Web3 investment firm Kelsier Ventures. The evolution of token launches and the recent $LIBRA token episode is covered in the latest report by DWF Labs in an effort to put forward more transparent and equitable token launch mechanisms.
Reports revealed that certain wallets, including Kelsier Ventures’, profited by over $110 million through liquidity provision and sniping tactics. This triggered a political crisis for Milei, with fraud accusations and
We współpracy z: https://thenewscrypto.com/the-evolution-of-token-launches-lessons-from-the-libra-launch/
