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Bitcoinist 2025-03-16 09:00:49

LIBRA Controversy: Was The Token’s $1.16 Billion Surge Rigged? DWF Report Says Yes

LIBRA Controversy: Was The Token’s $1.16 Billion Surge Rigged? DWF Report Says Yes

Within an hour, a meme coin on the Solana blockchain, LIBRA, ballooned to a market value of $1.16 billion before quickly disintegrating. According to sources, early buyers of the LIBRA token profited millions of dollars while regular investors ended up scratching their heads with nothing. The Rise And Fall Of LIBRA Shortly after its launch, LIBRA reportedly saw an unprecedented rise in value. But the excitement quickly turned to misery. Approximately 75,000 traders lost their first deposits when the token fell more than 90% in value. The damage, analysts said, were more than $280 million. Market watchers were puzzled by the abrupt shift. Many questioned how such a rapid boom could end in disaster so quickly. It didn’t take long before allegations of insider activity started surfacing. Early Birds Made Millions Recent reports indicate that specific individuals had access to LIBRA tokens prior to the public launch. Allegedly, these insiders acquired substantial quantities at reduced prices and subsequently disposed of them at the market’s peak. Prior to the collapse, some enjoyed profits of up to $110 million. Following the launch of tokens such as $MELANIA and $LIBRA , focus has turned to a need for more transparent and equitable token launch mechanisms in the crypto market. This edition of our institutional report ‘A Presidential Guide To Token Launches’ examines: The history of… pic.twitter.com/5Liroimyuz — DWF Labs (@DWFLabs) March 14, 2025 Insider Links One of the names mentioned in reports is Kelsier Ventures. The firm is suspected of having links to the pre-launch accumulation of LIBRA tokens. If true, this raises serious concerns about transparency and fairness in token launches. Investigating the situation, DWF Labs found that certain wallets connected with insiders disposed of significant amounts of LIBRA tokens at the point of highest pricing. When DWF Labs looked into the case, they found that funds linked to insiders dumped a lot of LIBRA tokens just as the prices were reaching their highest point. The findings show that people who bought before the launch had a big advantage, since early sales gave them the chance to make millions before the crash. This has made people worry that the rise and fall of the token wasn’t natural, but rather the result of moves planned by a small group of traders. Public Endorsement And Political Links The scandal surrounding LIBRA did not remain restricted to the crypto community. It rapidly garnered attention in the political and financial sectors as a result of its affiliation with prominent figures. Argentine President Javier Milei had explicitly supported the project. The situation has since sparked fears regarding the potential political involvement in financial activities related to crypto. Stringent Safety Nets Required DWF Labs has emphasized the necessity of more stringent safeguards , advocating for improved investor protections and more transparent regulations regarding token distributions to prevent early purchasers from obtaining unfair advantages. Their analysis has strengthened the argument that more stringent regulations are necessary to prevent future market manipulations of a similar nature. Featured image from Gemini Imagen, chart from TradingView

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