Argentina's Memecoin Disaster

Get 50% off your first order of CookUnity meals — go to https://cookunity.com/pboyle50 and use my code PBOYLE50 at checkout to try them out for yourself! Thanks to CookUnity for sponsoring this video! Argentina’s president Javier Milei has been rocked by a scandal over his promotion of a memecoin called $LIBRA which soared in value before collapsing last week, triggering lawsuits and calls for impeachment. Buyers of the cryptocurrency accused the coin’s creators of - what is known as a “rug pull” scheme, a type of crypto pump and dump scheme - where the promoters draw in buyers, only to stop trading and make off with the money raised from token sales. The same team who launched the Argentina linked meme token are also behind Donald Trump's wife's Melania Coin - which performed similarly. In today's video we discuss whether elected representatives should be involved in cryptocurrency investments. Patrick's Books: Statistics For The Trading Floor: https://amzn.to/3eerLA0 Derivatives For The Trading Floor: https://amzn.to/3cjsyPF Corporate Finance: https://amzn.to/3fn3rvC Ways To Support The Channel Patreon: https://www.patreon.com/PatrickBoyleOnFinance Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle Visit our website: https://www.onfinance.org Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social Business Inquiries ➡️ sponsors@onfinance.org Patrick Boyle On Finance Podcast: Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313 Google Podcasts: https://tinyurl.com/62862nve Join this channel to support making this content: https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Coffeezilla Libra Interview: https://www.youtube.com/watch?v=EqizJTbxAEM&t=3261s Learn more about your ad choices. Visit megaphone.fm/adchoices