Tommy Vitor

All right, let's switch hemispheres because Argentina's president, Javier Mille, could be in some deep shit thanks to his promotion of a meme coin crypto scam token called Libra. The Financial Times said this was, quote, the biggest crisis for his administration since he took office in December of 2023. So Ben, some basics for our non-crypto loving listeners here.

A meme coin, it's basically a crypto token that is often sold as a joke or a reference to some sort of like online community. The first meme coin was Dogecoin, which unfortunately has been appropriated by Elon Musk and his Doge bags. But the Dogecoin was kind of designed to mock the absurd speculation happening in the crypto space.

A meme coin, it's basically a crypto token that is often sold as a joke or a reference to some sort of like online community. The first meme coin was Dogecoin, which unfortunately has been appropriated by Elon Musk and his Doge bags. But the Dogecoin was kind of designed to mock the absurd speculation happening in the crypto space.

A meme coin, it's basically a crypto token that is often sold as a joke or a reference to some sort of like online community. The first meme coin was Dogecoin, which unfortunately has been appropriated by Elon Musk and his Doge bags. But the Dogecoin was kind of designed to mock the absurd speculation happening in the crypto space.

And then all of a sudden it got so popular that the market cap of Dogecoin, which to be clear, buying a meme coin gets you nothing.

And then all of a sudden it got so popular that the market cap of Dogecoin, which to be clear, buying a meme coin gets you nothing.

And then all of a sudden it got so popular that the market cap of Dogecoin, which to be clear, buying a meme coin gets you nothing.

Literally nothing.

Literally nothing.

Literally nothing.

But the market cap at one point at its peak of Dogecoin was $85 billion. Yeah. Billion dollars. Worthless thing.

But the market cap at one point at its peak of Dogecoin was $85 billion. Yeah. Billion dollars. Worthless thing.

But the market cap at one point at its peak of Dogecoin was $85 billion. Yeah. Billion dollars. Worthless thing.

It's fucking weird. So these things are a joke, but they can also be incredibly lucrative, which of course brings in the scammers.

It's fucking weird. So these things are a joke, but they can also be incredibly lucrative, which of course brings in the scammers.

It's fucking weird. So these things are a joke, but they can also be incredibly lucrative, which of course brings in the scammers.

Yeah, or Donald Trump, because you might remember Trump. Melania Trump, they released their own meme coins right before the inauguration. So that brings us back to last week. Friday night, Javier Mille tweets about the Libra coin. just after its launch. This has the effect of shooting it up. The market cap hits a peak of $4.56 billion, and then the value of the coin collapsed 94% in 11 hours.

Yeah, or Donald Trump, because you might remember Trump. Melania Trump, they released their own meme coins right before the inauguration. So that brings us back to last week. Friday night, Javier Mille tweets about the Libra coin. just after its launch. This has the effect of shooting it up. The market cap hits a peak of $4.56 billion, and then the value of the coin collapsed 94% in 11 hours.

Yeah, or Donald Trump, because you might remember Trump. Melania Trump, they released their own meme coins right before the inauguration. So that brings us back to last week. Friday night, Javier Mille tweets about the Libra coin. just after its launch. This has the effect of shooting it up. The market cap hits a peak of $4.56 billion, and then the value of the coin collapsed 94% in 11 hours.

And in the meme coin biz, this is what looks like what is called a rug pull, where you have some insiders who own a bunch of these coins. They own them early at the cheapest price possible. They pump the thing on social media, a bunch of people come in and buy them, and then they dump all their coins, pocket the money, and everyone who bought in late is holding the bag.