Following the launch of the TRUMP memecoin, five politicians found themselves embroiled in cryptocurrency scandals within a month, including the presidents of Argentina and the Central African Republic.
Challenges with Central African Republic's Token
On February 10, the President of the Central African Republic, Faustin-Archange Touadéra, launched a national token, CAR, which saw a botched launch causing confusion over its legitimacy. The project's website quickly went offline and its verified X account was suspended, raising doubts about the token's authenticity.
Argentina's Libragate Scandal
On February 14, Argentina’s President Javier Milei endorsed the LIBRA token, intended to support small businesses in the country. However, traders lost approximately $251 million, leading to allegations of potential fraud.
Fake Bermuda Memecoin
On February 15, scammers used a fake account of Bermuda's premier to promote a memecoin 'Bermuda National Coin.' The real premier pointed out the lack of controls on the app which allowed for deceit, and the issue was quickly addressed.
In just a month, memecoins have caused significant scandals among world leaders. However, interest in this phenomenon seems to be waning, potentially reducing such incidents in the future.
