CZ Pledges $100K to Victims of Argentina’s LIBRA Memecoin Scandal

Binance founder Changpeng Zhao (CZ) has stepped up to support victims of the LIBRA memecoin collapse, pledging 150 BNB (approximately $100,000) to those affected by the fraudulent scheme. The donation comes after Argentine President Javier Milei’s controversial endorsement and subsequent withdrawal from the project, which led to massive financial losses for investors.

The LIBRA Collapse: Hype to Disaster

LIBRA’s journey from a skyrocketing $4.5 billion market cap to a devastating 90% crash has left over 40,000 investors in turmoil. President Milei’s Feb. 14 tweet promoting the token sparked massive buying interest, only for him to delete the endorsement hours later.

Insiders reportedly cashed out millions, triggering an implosion that wiped out retail investors. Blockchain analytics firm Bubblemaps had previously flagged LIBRA as a high-risk project, but that didn’t stop the frenzy.