Unchained

Bits + Bips: Could the LIBRA Scandal End the Memecoin Craze? - Ep. 786

15 snips
Feb 19, 2025
The $LIBRA token's launch unraveled amidst claims of insider trading and price manipulation. Experts debate the future of the memecoin market and ponder if its era is truly over. The podcast also examines Solana's resilience and speculates on institutional investments flooding into Bitcoin. A look at the irony of regulatory calls, the influence of DOGE, and why Ethereum has performed well adds depth to the discussion. Broader trends in the U.S. economy and the demand for governmental tech modernization are also key takeaways.
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ANECDOTE

LIBRA Token Launch and Crash

  • The LIBRA token, endorsed by Argentina's president, surged to a multi-billion dollar valuation before crashing.
  • This was due to insider trading by Hayden Davis, an advisor who admitted to manipulating the price.
ANECDOTE

Joe McCann's LIBRA Experience

  • Joe McCann bought LIBRA, initially intrigued, but quickly realized it was a rug pull and sold.
  • He's witnessed similar situations throughout his time in crypto.
INSIGHT

Meme Coin Lifecycle Shortened

  • Ram Ahluwalia was surprised by the high participation in the LIBRA token launch after the Trump meme coin.
  • He believes the meme coin pump and dump lifecycle is now much shorter.
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