Within an hour, Solana Blockchain meme coin, Libra, had swelled to a market value of $1.16 billion before it quickly collapsed. Sources say early buyers at Libra Token made millions of dollars profits, but regular investors did nothing and stirred their heads.
Libra ascending and descending
Shortly after its release, Libra reportedly saw an unprecedented rise in value. But the excitement quickly turned miserable. Approximately 75,000 traders lost their initial deposits when the value of their tokens fell by more than 90%. Analysts say the damage was over $280 million.
Marketwatchers were confused by the sudden shift. Many people questioned how such a rapid boom could end in disasters so quickly. It didn't take long for allegations of insider activity to begin to surface.
Early birds have produced millions of birds
Recent reports show that certain individuals had access to Libra tokens prior to their public release. These insiders reportedly got a substantial quantity at discounted prices and then disposed of them at the market peak. Before the collapse, it had earned up to $110 million.
$After the release of tokens such as MELANIA $ librathe focus has shifted to the need for a more transparent and fair token launch mechanism in the crypto market.
This edition of our agency report, “President's Guide to the Release of Tokens,” looks like this:
✅… History pic.twitter.com/5liroimyuz
–DWF Lab (@dwflabs) March 14, 2025
Insider Link
One of the names mentioned in the report is Kelsier Ventures. The company is suspected of having a link to the pre-release accumulation of Libra tokens. If true, this raises serious concerns about the transparency and fairness of token launches.
Upon investigation of the situation, DWF Labs found that certain wallets associated with insiders dispose of a significant amount of Libra tokens at the highest price point.
When DWF Labs looked into the case, they found that insider-related funds dumped many Libra tokens so that prices were reaching the highest point.
The findings show that people who purchased before launch had a huge advantage. Because early sales gave us the opportunity to earn millions before crashing. This made people worried that the token rise and fall was not natural, but the result of movements planned by a small group of traders.
Official recognition and political links
The scandal surrounding Libra has not remained confined to the crypto community. It quickly attracted attention in the political and financial sectors as a result of partnerships with prominent figures.
Argentine President Javier Mairi was explicitly supporting the project. This situation subsequently sparked fears about the potential involvement of political involvement in financial activities related to crypto.
A strict safety net is required
DWF Labs highlights the need for stricter safeguards and advocates for improved investor protection and more transparent regulations on token distribution to prevent early buyers from gaining unfair benefits.
Their analysis reinforced the argument that stricter regulations are needed to prevent future market manipulation of similar properties.
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