GuShiio.com Rhythm BlockBeats Note: On January 16, the law firm planned to take legal action on behalf of investors against the Solana-based Meme-coin issuance platform Pump.fun, citing suspicious selling activities by users of the platform for months.
KIP Joint Venture: Not profiting from LIBRA, nor will it hide
At around 15:50, Julian, co-founder of KIP Protocol, said that he was also the CEO of KIP Protocol and that his team had not benefited from LIBRA. The previously issued announcement was indeed improperly worded, but it would not be deleted in order to maintain transparency. He did not hide and did not need to track him.
Solayer founder exposed information about KIP Protocol members, who responded that it was “not a scam” and was not afraid of being found.
At 13:53, after Solayer founder Chaofan Shou claimed that he and his engineers had lost more than US$2 million on LIBRA, he publicly released the personal information of the international sales director of KIP Protocol, the team behind LIBRA, on social media. Julian, co-founder of KIP Protocol, responded to the “box opening” behavior on social media: “Come and find me. This is not a scam (This is no rug). If this was a scam, we wouldn’t have received so much start-up support. Just because you lost money doesn’t mean it’s a scam.” But the founder of Solayer replied that the LIBRA incident was a RUG and he would find each of them.
Solayer founder: Due to LIBRA losses exceeding US$2 million, he will not sit idly by
At 12:54, Solayer founder Chaofan Shou posted on social media saying that he and Solayer engineer @tonykebot had lost more than US$2 million on LIBRA. He also posted a list of core members of the KIP Protocol team behind LIBRA, with a caption,”Let’s see what two hackers and a free weekend can bring us.”
The team behind LIBRA responded: President Milei did not participate in the development of the LIBRA project. Thank you for your support and trust.
At 11:36, the Web3 AI Foundation Layer KIP Protocol posted on social media saying that it launched the ambitious Viva la Libertad project today to help private companies in Argentina. LIBRA has achieved success and thanks to everyone’s trust and support. What needs to be clarified here is that this is a private enterprise project. Argentine President Javier Milei has not been and is not involved in the development of the project. It is a completely private enterprise.
It is reported that the Viva la Libertad project official website shows that the project is a private independent project developed by KIP Protocol. (The picture on the left shows KIP co-founder Julian, and the right shows President Milei. The photo was released in October 2024)
The team behind LIBRA has cashed in a total of US$107 million
According to Lookonchain monitoring, eight wallets related to the LIBRA team obtained 57.6 million USDC and 249,671 SOLs (approximately US$49.7 million) by increasing liquidity, removing liquidity and charging fees, totaling approximately US$107 million.
11:38 a.m.: Argentina’s president claims he did not know about the previously released LIBRA and rages against the masterminds behind the scenes
At 11:38, Argentine President Javier Milei posted on social media saying that the tweet he posted a few hours ago was originally thought to be the same as in the past, just to casually support a private entrepreneurial project that had nothing to do with him. I don’t know the details of the project, and I will never spread it after understanding it (which is also the reason why I deleted the tweet). For the dirty mice who want to use this situation to harm people, they are confirming how despicable politicians are every day, which strengthens the belief that I am determined to kick you out.
Around 11:30 a.m.: Argentina’s President deletes relevant tweets
Argentine President Javier Milei deleted previously posted tweets related to LIBRA, causing LIBRA prices to fall.
10 a.m.: LIBRA fell more than 85% from its high, with 4-hour trading volume reaching $1.2 billion
According to GMGN market data, the Meme coin LIBRA, suspected to be launched by Argentine President Javier Milei, has fallen by more than 85% since hitting a high of US$4.61 this morning. However, its market value still stands at US$600 million, and the cumulative transaction volume within 4 hours of launch reached US$1.2 billion.
6 a.m.: The official account of the Argentine President issues meme coins LIBRA address
On February 15, Argentine President Javier Milei announced the launch of Meme coin LIBRA through his official X account and announced the contract address. Subsequently, the price of LIBRA soared. Within an hour, Ember detected three insider trading addresses earning at least $20 million
