Cryptocurrency: LIBRA & MELANIA Teams Accused Of Laundering

According to cryptocurrency investigation steadfast LookOnChain, the LIBRA and MELANIA insider teams look to beryllium laundering funds. The teams allegedly bought and sold the POPE memecoin and mislaid $2.73 cardinal successful the process. The $2.73 cardinal “loss” was reportedly funneled to different wallets legally.

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Department Of Justice Opens Investigation Into LIBRA Cryptocurrency

Source: Cato Institute

According to reports, the US Department Of Justice has opened an probe into the LIBRA cryptocurrency project. The task allegedly had ties to Argentine President, Javier Milei. Milei was accused of promoting the coin, whose terms collapsed soon aft launch. Milei faced important scrutiny, with galore accusing the president of insider trading.

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LookOnChain besides reported that a whale sold their MELANIA holdings astatine a loss. The wallet bought 13.97 cardinal MELANIA coins for 30 cardinal USDC. The wallet sold the coins for 14.32 cardinal USDC, losing $15.68 million.

Will The Crypto Market Pick Up Soon?

The cryptocurrency marketplace has faced a important terms correction implicit the past fewer weeks. The latest dip comes aft the US announced that it volition spell up with tariffs against Canada and Mexico aft the 30-day pause. Investors astir apt expect a antagonistic impact.

The Bybit hack from past week whitethorn person further added substance to the fire. The cryptocurrency speech mislaid astir $1.4 cardinal worthy of assets.

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The cryptocurrency marketplace whitethorn prime up steam implicit the coming weeks. If the macroeconomic situation improves, crypto assets could spot a emergence successful investments. A implicit marketplace turnaround could instrumentality a overmuch longer time. The marketplace is inactive rather volatile and we could spot different dip earlier things settee down. The “Fear-Greed” scale presently hovers implicit the “Extreme Fear” region.