Lookonchain: Investors Suffer Repeated Losses on LIBRA Amid Argentine President’s Influence

Several investors have incurred significant losses twice over from investments in the LIBRA token, heavily promoted by Argentina’s President Javier Milei.

TRUMP made this guy a profit of $7.32M, but MELANIA caused him to lose $617K, and LIBRA caused him to lose another $1.76M!

This guy has lost twice on $LIBRA.

3 days ago, he spent $1.7M to buy $LIBRA and sold for $136K, losing $1.56M.

After Javier Milei (@JMilei) retweeted a… pic.twitter.com/LvAckm03Hi

— Lookonchain (@lookonchain) February 18, 2025

According to Lookonchain, three days ago, one market participant spent $1.7 million on the coin. He then sold the tokens, incurring a loss of $1.56 million.

“After Javier Milei reposted about how to buy LIBRA, the user spent $300,000 on reacquiring the asset and lost another $200,000,” analysts observed.

However, they noted that “the guy made $7.32 million in profit on the TRUMP token,” although he lost $617,000 on investments in MELANIA.

Even Whales Make Mistakes

One whale also recorded losses twice on investments in LIBRA, losing a total of $2.78 million.

A whale lost twice on $LIBRA, with a total loss of $2.78M!

3 days ago, this whale spent 17,450 $SOL($3.25M) to buy $LIBRA and sold for 3,200 $SOL($595K), losing 14,250 $SOL($2.65M).

After Javier Milei (@JMilei) retweeted a post about how to buy $LIBRA, this whale spent 2,855… pic.twitter.com/lOTSWqC7MB

— Lookonchain (@lookonchain) February 17, 2025

Three days ago, this market participant spent 17,450 SOL ($3.25 million) on purchasing LIBRA. He then sold the coins for 3,200 SOL ($595,000), losing 14,250 SOL ($2.65 million).

As in the previous case, Milei’s retweet prompted the whale to repurchase LIBRA—this time spending 2,855 SOL ($531,000). The investor then “dumped” the coins for 2,159 SOL, recording a loss of $129,000.

Earlier, the activity of Argentina’s president led to scandal, accusations of fraud, involvement in a Pump & Dump scheme, and the threat of impeachment.

Barstool Sports founder Dave Portnoy purchased LIBRA for approximately $170,000. The token is not related to the meme coin mentioned by Milei and has a different contract address.