Crypto influencer and entrepreneur Lingham has criticized the recent rug pull of the meme coin LIBRA, endorsed by Argentina's president, likening it to gambling where the 'house is also cheating.' He shared his views after listening to an interview with one of the coin's creators, highlighting the dangers of participating in the memecoin economy. Bitcoin advisor to El Salvador's president, Max Keiser, also weighed in, criticizing the lack of whitepapers in today's scams.
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U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.has taken to his account on the social media platform X to make a comment on the recent scandal with the meme coin LIBRA endorsed by Argentina’s president. He shared his view in a short tweet that was down to just two sentences. Another big figure in the crypto space – Bitcoin advisor to El Salvador president Max Keiser – also weighed in on the situation, expressing criticism.Lingham shared a link to an interview with one of the creators of the LIBRA coin which drained retail investors of more than a hundred million dollars in a single day. The meme coin was endorsed by Javier Gerardo Milei in an X post which was later rapidly deleted from his page.After soaring to almost $5 per coin, LIBRA gained market capitalization of approximately $4.5 billion and after that the collapse took place as several insider wallets which held more than 80% of the coin dumped their bags on the market at once, performing a classing rug pull.This is mind blowing and why I don’t participate in the memecoin economy. It’s like gambling except the house is also cheating…In his tweet, after listening to the interview, Lingham stated that owning to crypto scams like LIBRA, he does not “participate in the memecoin economy.” He also likened meme coins to a casino, saying that “it’s like gambling except the house is also cheating…” Max Keiser also commented on this case, but rather indirectly. In his tweet, the former financial observer and currently the Bitcoin adviser to El Salvador’s president Nayib Bukele stated that these days scammers do not even bother making whitepapers which all respectful cryptocurrencies have.This Bitcoin Indicator Teases Sustained Demand: Details
CRYPTOCURRENCY SCAMS MEMECOINS LIBRA RUG PULL CRYPTO REGULATION
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