Author: Planting Spring Malt
Source: Kindergarten Digital Assistant
1. Is it an innovation or a scam for the president to personally issue currency?
On February 15, 2025, Argentine President Javier Milei announced the launch of a meme coin called **LIBRA** through official social media, claiming that this move would "promote Argentina's economic growth" and directly announced the token contract address. As soon as the news came out, the price of LIBRA soared to $4.96 in a short period of time, and its market value once approached $5 billion. However, within just a few hours, its price was halved to $0.6, and its market value shrank to less than $1 billion, staging a "roller coaster" farce.
What is even more alarming is that this operation has been questioned as "the authenticity of the account is questionable." Some media pointed out that Mile's social account had previously posted controversial remarks many times, and this coin issuance may have been done by hackers, but the official has not yet responded clearly.
2. Presidential endorsement does not equal security guarantee, and the tactics of cutting leeks are upgraded
1. The “celebrity effect” becomes a sickle
Miley is not the first politician to get involved in cryptocurrency. In January 2025, former US President Trump launched his personal meme coin **TRUMP**, which soared 1,250% in market value on the day of its launch, and its trading volume exceeded $5 billion. However, such tokens often lack actual value support and rely solely on celebrity traffic hype, eventually becoming "harvesting tools."
2. Speculative carnival amid economic difficulties
Argentina has been mired in a debt crisis and inflation in recent years, and the government has even adopted radical policies such as cutting public spending by 30% and closing institutions to ease fiscal pressure. In this context, the president's gimmick of "saving the country with cryptocurrency" is likely to incite public speculation and cover up the weakness of economic governance.
3. Risks of losing control in a regulatory vacuum
Although Argentina has discussed cryptocurrency cooperation with El Salvador, experts emphasize that the feasibility of the country's full adoption of digital currency is extremely low, and complex debt problems and financial systems restrict the implementation of policies. The sudden launch of LIBRA coin, with no clear regulatory framework and no public technical white paper, is more like an "improvisational performance."
III. Historical Lessons: From Trump to the Central African Republic
Trump family issues currency: a “gray carnival” of political power and commercial interests
Trump's wife Melania followed Trump's lead in launching the MELANIA coin, which caused the price of the TRUMP coin to halve, and the market value evaporated by $7.5 billion in 10 minutes. Under the violent market fluctuations, more than 260,000 investors were liquidated within 24 hours, suffering heavy losses. Although Trump claimed that this move was to "support cryptocurrency innovation", experts pointed out that its essence is a "predatory financial tool" that attracts retail investors to take over through political aura and eventually cash out.
The Central African Republic President’s “Crude Experiment”: CAR Coin and the Regulatory Vacuum
In February 2025, the President of the Central African Republic, Faustin Archange Touadera, launched the Meme coin **CAR**, claiming to "promote national development through crypto assets". However, an investigation found that the official website domain name of the token was only registered for 4 days, and 80% of the tokens were concentrated in 6 associated addresses. The source of funds was Binance Exchange, and the technical security measures were almost zero. Yu Xian, the founder of SlowMist, also pointed out that the official website carried viruses and the risk was extremely high.
Although the Central African Republic is the second country after El Salvador to use Bitcoin as legal tender, its economic foundation is weak and its per capita GDP ranks last in the world. The president's issuance of currency has been questioned as "using the country's poverty to cover up financial speculation" and may even be the work of hackers.
4. Beware! The “politicization trap” of cryptocurrency
Mile’s LIBRA coin, on the surface, is under the banner of “economic innovation”, but in fact it may hide multiple risks:
- Policy contradictions: The Argentine government previously only allowed the use of Bitcoin payments in specific scenarios, which is far from the level of full support for cryptocurrencies. This coin issuance runs counter to existing policies.
- Sovereign credit overdraft: If the LIBRA currency eventually collapses, the country’s credit will suffer a severe blow, further exacerbating economic turmoil.
- People’s wealth evaporates: Ordinary investors blindly follow the trend and may suffer heavy losses due to plummeting prices, and ultimately pay for politicians’ “experiments”.
Conclusion
Cryptocurrency should not be a tool for politicians to divert conflicts and harvest public opinion. From Trump's TRUMP to Milley's LIBRA, behind the so-called "presidential projects" is a conspiracy between capital and power, and a wealth trap for ordinary people.
Investment warning:
- Stay away from Meme coins that have no real value and are purely hype;
- Be wary of projects endorsed by politicians and celebrities, and analyze the underlying logic rationally;
- Remember - high returns come with high risks, and the myth of getting rich quickly is often an abyss.
