LIBRA Token Plummets 85 Percent Amid Dump

LIBRA Token Crashes 85% Amid Developer Liquidation

• The LIBRA token, promoted by Argentine President Javier Milei, crashed 85% after developers liquidated $87 million in USDC and SOL.
• 82% of the token’s supply is concentrated in connected addresses, raising centralization concerns.
• The token’s top 100 holders experienced average losses exceeding 56% from an initial purchase price of $1.6.
• Suspected insiders reportedly profited around $20 million from trading LIBRA tokens.
• The project is linked to KIP Network Inc., backed by Animoca Ventures.

The LIBRA token suffered an 85% crash following the removal of $87 million in liquidity by its developers. This event highlighted significant centralization issues, with 82% of the supply held in a few addresses, and resulted in substantial losses for major holders.