Carrie Conn
Appearances
NPR News Now
NPR News: 02-16-2025 6PM EST
Oh my God, this is so much worse than I ever could have imagined.
NPR News Now
NPR News: 02-16-2025 6PM EST
Friday night, President Javier Millet posted on X an endorsement of a new crypto coin called Libra. The currency launched just hours before the president's post promised to strengthen the Argentine economy. Under an hour of Millet's promotion, the coin rose to nearly $5 in value. However, soon it plunged to under a dollar.
NPR News Now
NPR News: 02-16-2025 6PM EST
Saturday, Millay deleted the tweet, denied relation to the coin, and blamed critics for attacking him. Observers say the coin launch is a so-called rug pull, where developers attract investors, then bolt. Millay's crypto move echoes similar steps by President Trump, a close ally. Days before his inauguration, Trump released a namesake coin, which has since plummeted in value. Carrie Conn, NPR News.