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LIBRA token that gathered huge attention after getting embraced by Javier Gerardo, the 54-year-old president of Argentina. A few of the now-deleted posts from the president’s Twitter handle were reportedly promoting the LIBRA token. Yet, the post vanished from the timeline once he became aware of the details of the project.
As per a recent report, Javier withdrew his support for LIBRA and also said that before posting over Twitter, he was not aware of the fact, but as soon as he got the information, he decided not to support this project.
It is worth noting that LIBRA claimed to be part of the Viv La Libertad Project, which supports Argentina’s economy. However, a few days after its launch, it lost around 85 percent of its price.
He said, “A few hours ago, I posted a tweet, as I have so many other times, supporting a supposed private enterprise with which I have no connection whatsoever,” adding, “I was not aware of the details of the project, and after having become aware of it I decided not to continue spreading the word (that is why I deleted the tweet).
Political influence backing more illicit activities in crypto?
Since its initial days of writing, crypto has seen a deeper involvement in the political ecosystem, with some praising digital and others opposing.
The recent presidential election of the United States has gained huge attention globally because of the funding and other debates concerning cryptocurrencies, and after Donald Trump’s victory, Bitcoin crossed the milestone of $100k.
The majority of times, it has been reported that several political parties of few developed and developing nations have received massive funding in cryptocurrencies, especially Tether (USDT).
This is not the first time when the Argentinian president has come into the light over the controversy of crypto, earlier was found promoting CoinX, a reported bogus crypto project that affected thousands of investors.
After the project was crackdown by authorities, investors filed a lawsuit against Millie seeking $300k, worth noting that several investors lost their savings after the firm came into the eyes of authorities.
Crypto market price updates
Until publishing, the cryptocurrency market cap was $3.25 trillion with a surge of 1.45 percent, and the trading volume was $106.91 billion with a surge of 5.01 percent.
Bitcoin is now trading at $97,653 with a growth of 1.59 percent in the past 24 hours, Ethereum exchanging hands at $2,756 with a weekly surge of 3.46 percent.
According to the data from CoinMarketCap, the intraday gainer’s list has been ruled by Mantra, Official Trump, Dogwifhat, XDC Network, XRP, and Ethena.
In the same frame, the losers are Onyxcoin, which lost 7.63 percent now trading at $0.02134, followed by PanCakeSwap, Bitget Token, BNB, and Tether Gold.
The total volume in DeFi is currently $7.88 billion, 7.37% of the total crypto market 24-hour volume. The volume of all stablecoins is now $97.42 billion, 91.12% of the total crypto market 24-hour volume.
