
Cryptomania Club
February 20, 2025 at 01:22 PM
*📊 MIDWEEK DIGEST: Milei's $Libra Fallout, Solana's Slump, El Salvador's Bitcoin Push & More*
Big crypto updates! From Argentina’s president facing fraud charges over $Libra, to Solana’s 40% drop — here’s what’s moving the market:
*🇦🇷 Milei Faces Fraud Probe Over $Libra Crash*
Argentina's President Javier Milei faces fraud accusations and impeachment calls after sharing a $Libra crypto link that spiked, then crashed, wiping out investors' money. Milei claims he "just shared" the link to support small businesses and deleted the post to "avoid speculation."
Critics call it a "rug pull," while a judge weighs fraud charges. Despite the backlash, impeachment chances remain slim.
*🪙 El Salvador & Saylor Boost Bitcoin Adoption*
El Salvador continues pushing Bitcoin adoption as President Bukele meets Michael Saylor to discuss global crypto growth. Despite IMF reforms, the country keeps buying Bitcoin. Saylor calls Bitcoin safer than gold or fiat.
*💸 Musk Eyes $5K DOGE Checks*
Elon Musk is considering $5,000 payouts to Americans if his DOGE task force hits $2T in savings. DOGE claims $55B saved so far, but some numbers don’t add up. Congress approval is needed, and opinions are split on how to use the funds.
*💀 Solana Drops 40% — Panic or Opportunity?*
Solana (SOL) fell 40% this month, from $290 to $170. Panic? Maybe not. But that $290 spike was an anomaly (thanks, $TRUMP), and the whole market’s down.
SOL’s slump comes from cooling memecoin hype, Argentina’s $LIBRA flop, falling activity, an 11M SOL unlock (March 1), and institutions swapping SOL for ETH. Yet, 67% of Solana’s $3.2B DEX volume is still memecoin-driven — above December lows. Dip or buying chance?
*📢 Share this post with your crypto squad!*
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