The Libra Impact On Solana | Weekly Roundup

Feb 19, 2025

Dan Smith, a crypto analyst and expert, dives into the controversial launch of the LIBRA token and its fallout, sparked by Argentine President Javier Milei. He discusses allegations of insider trading and the public's frustration towards repeated scams in the crypto space. The conversation highlights how meme coins like LIBRA impact established projects such as Solana, examining potential market manipulations and the need for ethical standards. Finally, they weigh the merits of long-term projects against the rising trend of meme coins.

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INSIGHT

Libra Fallout Impact

The "Libra" incident exposed the blatant nature of meme coin pump-and-dump schemes.
This revelation significantly damaged social sentiment, more so than previous similar incidents.

ANECDOTE

CoffeeZilla Interview

CoffeeZilla interviewed Hayden, who admitted to market manipulation in meme coin launches.
Hayden's justification for sniping tokens was to prevent others from doing so, a dubious claim.

INSIGHT

Insider Trading in Meme Coins

Meme coin launches often involve insiders buying early and dumping on others.
Leaking contract addresses before launch enables this manipulation, eroding trust.

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Gm! This week we're joined by Dan Smith for another roundup. We deep dive into the LIBRA token launch and it's impact on Solana. Enjoy!

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Timestamps:

(00:00) Introduction

(00:33) The LIBRA Fallout

(10:59) Bonk Bet Ad

(11:30) Crypto’s Social Layer

(18:10) Why Is Sentiment So Bad?

(21:43) Are Meme Coins Ruining Crypto?

(25:18) The Impact On Solana

(30:57) Crypto Tax Calculator Ad

(31:29) Bonk Bet Ad

(32:01) State Of The Market

Disclaimers: Lightspeed was kickstarted by a grant from the Solana Foundation.Nothing said on Lightspeed is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Mert, Jack, and our guests may hold positions in the companies, funds, or projects discussed.