Argentina’s president unveils $LIBRA token with 82% supply unlocked across connected wallets
Key Takeaways
- Argentina’s President Javier Milei announced $LIBRA as a digital token to support small businesses and stimulate the economy.
- The $LIBRA token is linked to KIP Protocol, a web3 framework for AI, with partnerships involving national governance.
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Argentine President Javier Milei has introduced a token named $LIBRA, designed to stimulate the economy by funding small businesses.
La Argentina Liberal crece!!!
Este proyecto privado se dedicará a incentivar el crecimiento de la economía argentina, fondeando pequeñas empresas y emprendimientos argentinos.
El mundo quiere invertir en Argentina.https://t.co/BtUJSdQXWyContrato:…
— Javier Milei (@JMilei) February 14, 2025
However, the launch has raised concerns, as 82% of the token supply is already unlocked across multiple connected addresses—a factor that may indicate centralized control or potential manipulation.
another presidential meme
82% of $LIBRA is held in one cluster
no tokenomics shared—trade with caution https://t.co/Nx4Ar2kqoL pic.twitter.com/VUCtpKi5mU
— Bubblemaps (@bubblemaps) February 14, 2025
$LIBRA has reached a fully diluted valuation of $4.5 billion within hours of its launch.
At the bottom of the project’s website is a note reading, “Private Initative project Developed by KIP Network Inc © 2025.” This ties $LIBRA to KIP Network Inc. and its associated KIP Protocol, a Web3 framework for AI applications.
KIP Protocol, backed by Animoca Ventures, has recently been active in Argentina, joining the blockchain committee of the Buenos Aires City Government and meeting with President Milei last October.
KIP Protocol marks historic milestone in LATAM expansion 🔥
Tech Forum in Argentina was one for the books! Our Co-Founder and CEO @julian_kip met with President Javier Milei to outline how KIP’s decentralized AI technology aligns with Argentina’s vision to become a global tech… pic.twitter.com/Bqk3zjZS7f
— KIP Protocol (@KIPprotocol) October 25, 2024
Industry experts have highlighted the risks inherent in the token’s distribution model.
Conor Grogan, Coinbase’s head of product, urged caution, noting that established launches typically employ multi-signature wallets and strict KYC measures.
Assume this is a scam, account funded by a nokyc exchange, usually these sorts of large launches are planned in advance and have multisigs and such pic.twitter.com/eLFOlA2CVo
— Conor (@jconorgrogan) February 14, 2025
The $LIBRA token is part of the Viva La Libertad Project, which aims to support Argentina’s economy by funding local businesses and startups.
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Author: Diego Almada Lopez
