The president of Argentina, Javier Milei, went back on a tweet promoting a same name called Balance, which reached a market capitalization of $ 4.4 billion before diving more than 95% .
In a tweet now deleted, Milei initially wrote: “This is a private project dedicated to encouraging the growth of the Argentine economy”, as well as a Solana contract related to the balance token.
The balance increased by more than 2,000% over a period of 40 minutes after the tweet, to tumble quickly while a group of first holders began to remove.
X Kobeissiletter account shared a series of bubblemaps screenshots showing that presumed tokens “initiated” liquidate by adding unilateral liquidity pools on Métora with only the balance, allowing them to delete the soil and the stablecoins.
The volume of negotiation for Balance struck $ 1.1 billion after the launch, although it appeared that purchases and sales were biased; There were 74,500 individual purchase orders and 28,900 sales – indicating that larger sales orders appeased the burst of retail.
Milei then addressed the same botch on X, declaring that he “was not aware of the details of the project”.
Hace Unas Horas published a tweet, Como Tantas Otras infinitas veces, Aboyando an Supuesto impreenso privado del that eviliamente no tengo vinculación alguna.
No Estaba Interiorizado de los pormenores del proyecto y Luego de Haberme interiorizado decidí no seguir dándole…
– Javier Milei (@jmilei) February 15, 2025
“A few hours ago, I published a tweet, because I have so many other times, supporting a supposed private enterprise with which I obviously have no link,” wrote Milei. “I was not aware of the details of the project and after becoming aware, I decided not to continue to pass the word (that’s why I deleted the tweet).”
The sale of balance has overcome the wider market of the same, with Trump losing $ 500 million in its market capitalization, according to market data, during a period of 30 minutes after Balance began to tumble.
