Author: Springtime Barley

Source: Kindergarten Digital Assistant

1. Is the President's Direct Involvement in Issuing Currency Innovation or a Scam?

On February 15, 2025, Argentinian President Javier Milei announced through official social media the launch of a Meme coin called LIBRA, claiming that this move would "promote economic growth in Argentina," and directly published the token contract address. Following the announcement, the price of LIBRA briefly soared to $4.96, with a market cap nearing $5 billion. However, within just a few hours, its price plummeted to $0.6, and the market cap shrank to less than $1 billion, resulting in a "roller coaster" farce.

What is even more alarming is that this operation has been questioned for its "account authenticity." Some media pointed out that Milei's social account had previously posted controversial statements, and this currency issuance might be the result of a hacker's account takeover, but the official response has yet to be clarified.

2. Presidential Endorsement ≠ Safety Guarantee, Upgraded Tactics for Harvesting Leeks

1. "Celebrity Effect" as a Scythe

Milei is not the first politician to venture into cryptocurrency. In January 2025, former U.S. President Trump launched his personal Meme coin TRUMP, which saw its market cap surge by 1250% on the first day, with trading volume exceeding $5 billion. However, such tokens often lack actual value support and rely solely on celebrity hype, ultimately becoming "harvesting tools."

2. Speculative Frenzy Amid Economic Hardship

Argentina has been mired in a debt crisis and inflation in recent years, with the government even implementing radical policies such as cutting public spending by 30% and closing institutions to alleviate fiscal pressure. Against this backdrop, the president's use of "cryptocurrency to save the country" as a gimmick easily stirs public speculative sentiment, masking the government's ineffectiveness in economic governance.

3. Risk Control in a Regulatory Vacuum

Although Argentina has discussed cryptocurrency cooperation with El Salvador, experts emphasize that the feasibility of the country fully adopting digital currency is extremely low, as complex debt issues and financial system limitations hinder policy implementation. The sudden launch of the LIBRA coin lacks a clear regulatory framework and has not published a technical white paper, resembling more of an "improvised performance."

3. Historical Lessons: From Trump to the Central African Republic

Trump's Family Coin: A "Gray Carnival" of Political Power and Business Interests

Following Trump's coin launch, his wife Melania introduced MELANIA Coin, leading to a halving of the TRUMP coin price, with a market cap evaporating by $7.5 billion within 10 minutes. Amidst the market's violent fluctuations, over 260,000 investors faced liquidation within 24 hours, suffering heavy losses. Although Trump claimed this move was to "support cryptocurrency innovation," experts pointed out that its essence is a "predatory financial tool," attracting retail investors through political glamour, ultimately cashing out and leaving them behind.

The Central African Republic President's "Rough Experiment": CAR Coin and Regulatory Vacuum

In February 2025, Central African Republic President Faustin-Archange Touadéra launched the Meme coin CAR, claiming to "promote national development through crypto assets." However, investigations revealed that the token's official website domain was registered only 4 days prior, and 80% of the tokens were concentrated in 6 associated addresses, with funding sources from Binance exchange and almost no technical security measures. The founder of Slow Mist, Yu Xian, further pointed out that the official website carried viruses, posing extremely high risks.

Although the Central African Republic is the second country after El Salvador to adopt Bitcoin as legal tender, its weak economic foundation places it at the bottom of global GDP per capita. The president's issuance of currency has been questioned as "using the plight of a poor country to cover financial speculation," and it may even be the result of a hacker's account takeover.

4. Beware! The "Political Trap" of Cryptocurrency

Milei's LIBRA coin, on the surface, touts "economic innovation," but it may hide multiple risks:

• Policy Contradictions: The Argentinian government previously only allowed Bitcoin payments in specific scenarios, far from fully supporting cryptocurrency; this issuance contradicts existing policies.
• Sovereign Credit Overdraft: If LIBRA ultimately collapses, national credit will suffer severe damage, further exacerbating economic turmoil.
• Public Wealth Erosion: Ordinary investors blindly following trends may suffer heavy losses due to price crashes, ultimately paying the price for politicians' "experiments."

Conclusion

Cryptocurrency should not become a tool for politicians to shift contradictions and harvest public sentiment. From Trump's TRUMP to Milei's LIBRA, the so-called "presidential-level projects" are a collusion of capital and power, and a wealth trap for ordinary people.

Investment Warnings:

• Stay away from Meme coins with no actual value, relying solely on speculation;
• Be wary of projects endorsed by politicians and celebrities, and analyze the underlying logic rationally;
• Remember—high returns come with high risks; beneath the myth of sudden wealth often lies a deep abyss.

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