February 18, 2025

How the Libra Scandal Exposed Memecoin Insider Trading on the World Stage - Ep. 785

1 hour 8 minutes

Was Argentina’s president used to pump a memecoin? The launch of $LIBRA has turned into a political and financial scandal, with accusations of insider trading, bribes, price manipulation, and government ties to crypto influencers.

In this episode, Diogenes Casares, a crypto trader with deep connections in both memecoins and Argentina’s crypto scene, exposes what really happened behind the scenes. He details how a network of market makers, influencers, and political insiders orchestrated the launch, how the price was manipulated from the start, and why he believes the entire operation was illegal.

Casares also explains the potential legal consequences for those involved, the impact on President Javier Milei’s administration, and what all this means for the future of Solana memecoins.

Show highlights:

3:06 How Dio heard about the launch of an Argentina-related memecoin two weeks in advance

8:09 Whether Argentines were the ones who actually lost money on the coin

40:50 How Kelsier Ventures’ Hayden Davis crashed the price of the token

14:51 How the story is being perceived in Argentina

16:38 Why Dio believes Argentine President Javier Milei was naive

22:38 Who the insiders were and what role they played

26:56 Why Dio says that insider trading is illegal even in crypto

30:31 How some of the insiders are “pathological liars,” according to Dio

34:57 Why Dio doesn’t believe Jupiter’s statement and is skeptical about the Meteora founder’s statement

40:50 Why Dio says Davis’ “strategy” was actually price manipulation

44:32 What should be done with the $100 million that Davis holds

45:24 How Milei could suffer politically because of the situation

51:48 What Dio thinks about Dave Portnoy’s refund

57:09 How it was disappointing that this scandal happened in a place with so much crypto adoption

1:00:53 What’s next for Milei and whether he’ll go through impeachment

Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com

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Guest:

Diogenes Casares, a crypto trader from ArgentinaLinks

Unchained: Crypto Community Incensed by Insider Activity on LIBRA Memecoin Promoted by Argentina’s President

Coffeezilla interview: Argentina’s memecoin creator interview (LIBRA)

Bribes, Insiders and a Manipulated President | What Really Happened with $LIBRA by Diogenes Casares

Jupiter Exchange’s statement

Meteora’s Ben Chow’s statement

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By Laura Shin

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