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What Happened in Crypto Markets in the Last Year?

Emre Yumlu — Mon, 15 Dec 2025 16:00:40 +0000

Although crypto markets are inherently highly volatile, the past year has been a true rollercoaster experience marked by record liquidations, political scandals, deep price corrections, and historic lows. Especially after Bitcoin surpassed $126,000 in 2025 to reach an all-time high, the market entered a sharp correction phase contrary to expectations. Here is a detailed summary of the critical events that occurred during this turbulent period and etched themselves into investors’ memories:

The Largest Liquidation in History: $19 Billion Evaporated

On the night of October 11, 2025, crypto markets witnessed the largest leveraged position liquidation in history. U.S. President Donald Trump’s threat to impose new and high tariffs on Chinese imports suddenly ended global risk appetite and created a massive shock wave in financial markets. Cryptocurrencies were also heavily affected, with over $19 billion in leveraged positions liquidated in just hours. This massive liquidation left many investors in difficult situations while painfully highlighting the market’s vulnerability due to leverage once again.

Bitcoin (BTC) experienced a sharp drop, spiking down from $122,000 levels to below $103,000.

Up to 70% Value Losses in Altcoins on October 11 Night

On the night of October 11, when the record $19 billion liquidation occurred, alongside Bitcoin’s sharp drop, altcoin markets saw massive losses of up to 70%. Particularly high-leverage altcoins with smaller market caps compared to Bitcoin melted away in this panic selling wave. For example, popular altcoins like XRP and Dogecoin (DOGE) experienced significant value losses. The total crypto market cap dropped by approximately $800 billion in just a few hours, falling from $4.3 trillion to $3.64 trillion. These sharp declines once again reminded investors of the risks of leveraged trading and the devastating impact of market shocks on altcoins.

Many Altcoins Dropped to Their Historic Lows

2025 was like a winter season for many altcoins. As a result of deep market-wide corrections and investors shifting toward Bitcoin (increasing “Bitcoin Dominance”), numerous altcoins approached or retested their all-time lows. This was particularly devastating for projects that had inflated with speculative buying during the 2021 and early 2024 bull runs.

Argentina President Scandal: LIBRA Coin and 99% Collapse

In February 2025, Argentine President Javier Milei’s social media post supporting a “meme coin” project called LIBRA caused a major scandal in the crypto market. The coin, associated with the president’s dog’s name, rapidly rose in the first hours with presidential backing, reaching a $4.5 billion market cap. However, immediately after this rapid rise, doubts about the project’s reliability and Milei’s deletion of his posts led to LIBRA’s value collapsing by nearly 99% in hours, dropping to $200 million. This event exposed the extremely speculative nature of meme coin projects and the manipulative influence of political figures, causing many investors to suffer massive losses.

Ethereum Spiking Down to $1,380

The general market correction that began after Bitcoin reached historic highs deeply affected Ethereum (ETH), the largest altcoin. During the sharp price movements in 2025, Ethereum experienced a steep drop to $1,380 levels at one point.

Having shown more resilient performance earlier in the year with less loss relative to Bitcoin, Ethereum retreated to these important psychological levels amid overall market uncertainty and selling pressure. This drop was a concrete example of how panic in the market and macroeconomic factors can impact even the strongest projects.

Fear Index Hit Its Lowest Level in the Last 3 Years

The Fear and Greed Index, which measures sentiment in crypto markets, dropped to 9 amid all these turbulences, reaching one of the lowest levels in the past three years. Values close to 0 on the index represent “Extreme Fear,” while values close to 100 represent “Extreme Greed.”

The index falling to 9 indicated that investors were in great panic and uncertainty, completely avoiding risk, with intense selling pressure dominating the market. Although this level is typically considered close to market bottoms, it was striking data revealing how worn investor psychology was and how shaken confidence in the market had become.

An Unforgettable Year in the Crypto Markets

This chain of events proved that the past year was an unforgettable and lesson-filled period for crypto markets. Excessive leverage, macroeconomic uncertainties, and sudden collapses triggered by political events forced investors to rethink the importance of risk management and market sentiment.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

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LIBRA Scandal Deepens in Argentina: Authorities Order Asset Freeze

Haciyev Reşit — Tue, 11 Nov 2025 12:53:14 +0000

A major development has emerged in Argentina’s ongoing LIBRA memecoin scandal, which has sent shockwaves through the country’s crypto community. Federal Judge Marcelo Giorgi has ordered the freezing of all assets linked to the LIBRA project, targeting U.S. businessman Hayden Davis and two crypto intermediaries. The ruling escalates the investigation into allegations of fraud involving Argentine President Javier Milei’s name.

LIBRA Assets Officially Frozen

Judge Giorgi’s order includes a “prohibición de innovación” — a legal measure preventing the transfer or alteration of digital assets connected to LIBRA. The freeze applies to Hayden Davis (U.S.), Orlando Mellino (Argentina), and Favio Rodriguez (Colombia), all allegedly involved in the movement of project funds. Prosecutor Eduardo Taino requested the measure based on reports from Argentina’s financial oversight agencies, which estimate that investors may have lost between $100 million and $120 million.

Judge Giorgi stated:

“This decision was made to prevent the suspects from transferring or concealing funds before the trial concludes.”

The ruling was also communicated to all crypto exchanges operating in Argentina, and the National Securities Commission (CNV) has begun freezing LIBRA-related accounts in coordination with the court.

A Scandal Sparked by a Selfie

The investigation began after President Javier Milei posted a selfie with Hayden Davis, referring to him as his “blockchain advisor.” Just 42 minutes after the post, a $507,500 transaction was made through Bitget Exchange.

Blockchain analytics firms TRM Labs and Chainalysis later linked this transfer to withdrawals from LIBRA liquidity pools across Bitget, Gate.io, and Circle. Reports suggest that around $90 million was funneled through consolidation wallets tied to the project. According to Reuters, “the on-chain behavior indicates that these addresses are connected to LIBRA’s internal operations.”

Argentina’s Crypto Community Shaken

The LIBRA incident is now being described as one of the largest crypto fraud cases in Argentina’s history. Experts warn that the association of political figures with crypto projects has severely damaged investor confidence.

Driven by President Milei’s social media influence, LIBRA gained rapid attention by exploiting meme culture — only to collapse within hours. The resulting hundreds of millions in losses have placed Argentina’s financial regulators on high alert.

Political Fallout Intensifies

Launched on the Solana network in February, LIBRA briefly surged after Milei’s post — before crashing almost immediately. Milei later deleted the post, claiming:

“I was not informed of the project’s details. Once I learned more, I chose not to continue supporting it.”

However, leaked messages have further fueled controversy. In one alleged exchange, Davis wrote, “I’m sending money to his sister — she’s doing everything I sign off on. Crazy.” These messages strengthened accusations that Milei’s name was exploited to attract investors.

A Turning Point in Argentina’s Crypto History

The LIBRA memecoin scandal highlights the dangers of unregulated markets and the risks posed when political figures intersect with crypto promotions. Judge Giorgi’s decision marks one of the first large-scale judicial interventions in Argentina’s digital asset space.

New developments in the case are expected to unfold in the coming weeks, as regulators, courts, and the crypto community grapple with the fallout of Argentina’s largest crypto fraud case to date.

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Argentine President Milei Shuts Down Unit Investigating $LIBRA Scandal

Emre Yumlu — Tue, 20 May 2025 14:52:51 +0000

While Argentina’s economy continues to face numerous challenges, a recent scandal from the crypto world has shaken the country’s financial stability once again. The LIBRA token controversy, which has been closely associated with President Javier Milei, quickly evolved into a nationwide crisis affecting not only investors but also public trust. Now, the special unit investigating this scandal has been shut down by President Milei’s order. But how did it all begin?

How Did the LIBRA Token Scandal Erupt?

Known for his enthusiasm for cryptocurrencies, Argentine President Javier Milei publicly announced his support for a new digital asset called Libra (LIBRA) a few months ago. His endorsement was well received by investors, and the token attracted massive attention upon launch.

However, the excitement quickly turned into chaos. Blockchain analysis revealed that eight insider wallets collectively withdrew $107 million in liquidity, leaving thousands of investors at a loss. Following this event, LIBRA’s market capitalization collapsed from $4 billion to near zero. The Argentine stock exchange also reacted sharply, with indices dropping by over 6%.

Adding fuel to the fire, rumors emerged that the rug pull had been known in crypto circles weeks in advance. Jupiter Exchange claimed on social media that the LIBRA token launch was an “open secret in memecoin communities,” further intensifying insider trading allegations.

From Market Crash to Investigation Shutdown: A Surprising Turn

In response to the growing public backlash, the Argentine government established a special investigative unit to probe the organization behind LIBRA and the potential misuse of insider information. However, on May 20, 2025, reports confirmed that President Javier Milei has officially dissolved the unit.

The decision, made through a presidential decree, sparked a new wave of distrust among both local and international investors. As the crypto market once again debates transparency and accountability, many analysts interpret Milei’s move as an attempt to suppress the scandal rather than resolve it.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

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Argentina Congress Launches Investigation Over Libra Memecoin Scandal!

Yigit Taha OZTURK — Wed, 09 Apr 2025 09:30:26 +0000

Argentina’s Chamber of Deputies has approved three draft resolutions to investigate top government officials involved in the controversial Libra memecoin project, which was publicly endorsed by President Javier Milei and later collapsed, leaving investors with heavy losses.

The resolutions include the creation of a special commission to examine the Libra case, summoning key members of the executive branch, and demanding an official government report. Those to be summoned include the Chief of Staff, Minister of Economy, Minister of Justice, and the head of the National Securities Commission (CNV).

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“It’s time for Congress to examine whether Argentina has been harmed. We have a duty to uncover the truth,” said Pablo Juliano of the Democracia para Siempre party. On the other hand, Nicolás Mayoraz from La Libertad Avanza criticized the move as interference with the separation of powers.

Milei and Libra

Libra, a Solana-based memecoin, was launched on February 14 by Delaware-registered Kelsier Ventures. Within hours, President Milei promoted the token on social media platform X, claiming it would support small businesses and startups across Argentina.

His post described the token as a “private project” and linked directly to the Libra website and smart contract. The token’s value skyrocketed to a $2 billion market cap before plummeting by over 90%, sparking outrage and calls for impeachment.

Milei later distanced himself from the project, stating he had no prior knowledge of it. Meanwhile, Kelsier Ventures CEO Hayden Davis claimed he had advised Milei and worked closely with his team. Davis also admitted that the team used a “sniping” strategy to gain early profits and was involved in the MELANIA memecoin, which also experienced a sharp rise and fall.

An Argentine prosecutor has requested an Interpol Red Notice for Davis, who is reportedly behind yet another memecoin that crashed shortly after launch.

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LIBRA Scandal: Milei’s Sister Involved in Allegations

Tanju Akbıyık — Wed, 19 Feb 2025 09:30:59 +0000

Argentine President Javier Milei’s name has been embroiled in a scandal associated with the controversial Libra (LIBRA) token. According to local media reports, Hayden Davis, one of Libra’s creators, claimed that Milei paid his sister to get the president to post about the token.

Alleged Money Sent to Milei’s Sister

According to a February 18 report by La Nacion, Hayden Davis, CEO of Kelsier Ventures and known to be linked to the Libra token, sent messages to a crypto investment firm executive claiming that he paid Karina Milei to get Javier Milei the publicity he wanted.

In one of the messages, Davis allegedly used the following statements:

“We can get Milei to tweet, we can get her face to face and we can get her promoted.”
“I send her money and she does whatever I want.”

Davis, however, said he did not remember sending these messages and there was no record of them on his phone. He also denied making any payments to the Milei family.

Karina Milei’s Role and Involvement in the Scandal

Karina Milei, Javier Milei’s sister, currently serves as the Secretary General of the Argentine Presidency and is considered one of the president’s closest advisors. It is not yet clear whether Karina Milei, who accompanies Milei on his official trips abroad, is involved in such a financial deal.

Milei: “I Didn’t Advertise, I Just Shared”

President Javier Milei has defended himself against fraud lawsuits alleging that he promoted the Libra token. “I didn’t promote it, I just announced it, ” he said in an interview with Todo Noticias on February 17.

Milei also stated that he had “nothing to hide” and “acted in good faith”. However, he acknowledged that he had learned from the incident and that in the future he would “need to filter what content is appropriate to share and what is not.”

Milei also emphasized that the state should not play a role in such matters, saying, “Only the parties involved are responsible here, the state has no role. “

Conclusion: Is the Scandal Deepening?

Milei has denied any direct connection to the Libra token, but the allegations have caused a public outcry.
While the opposition has called for the impeachment of the head of state, Davis’ messages may cause the incident to deepen.
Libra token victims are exploring legal avenues to recover their losses.

While this scandal has increased pressure on the Milei government, it is predicted that the Libra token incident could lead to larger-scale investigations.

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New Measures for Memecoins Following the Libra Scandal!

Yigit Taha OZTURK — Tue, 18 Feb 2025 09:00:03 +0000

Pump.fun founder Alon has called for stricter measures for token launch platforms in the wake of the LIBRA memecoin scandal.

The LIBRA Memecoin Scandal Escalates!

The founder of the Solana-based Pump.fun platform emphasized the necessity of new regulations for token launch platforms. On February 18, Alon expressed his “great discomfort” over the LIBRA memecoin launch, calling it an “insider scam” in a post on X.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

LIBRA was introduced as the official token of Argentina by President Javier Milei on February 15. However, shortly after, certain wallets siphoned $107 million from the token’s liquidity pool, and Milei deleted his post endorsing the token. This resulted in LIBRA losing $4.4 billion in market capitalization in just six hours.

Alon: “New Measures Must Be Taken!”

Pump.fun founder Alon argued that token launch platforms should implement stricter rules to enhance security and protect investors.

According to Alon:

Users should be educated on how to create coins safely and ethically.
Platforms should be made more user-friendly for new investors.
The visibility of tokens showing suspicious trading patterns or ownership structures should be restricted.

Resignation Shock at Meteora!

Meanwhile, Meteora co-founder Ben Chow announced his resignation due to “poor judgment” on certain critical matters within the project.

Meow, the founder of Jupiter, denied allegations that their teams were directly involved in the LIBRA token launch, stating that no insider information was used for personal gain. Chow also assured that neither he nor the Meteora team engaged in any illegal transactions regarding LIBRA.

Finally, Meow revealed that they had hired Fenwick & West, a law firm, to conduct an independent investigation into the situation and release a detailed report.

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Argentina Stock Market Crashes After Libra Coin Scandal!

Yigit Taha OZTURK — Mon, 17 Feb 2025 14:32:38 +0000

The Argentine markets are experiencing one of their biggest turbulences in recent years. President Javier Milei’s involvement in the Libra (LIBRA) token scandal has led to a significant loss of confidence in the financial markets. The uncertainty and investor panic caused the Argentine stock market to drop by more than 6%.

How Did the Crypto Scandal Affect the Markets?

Known for his interest in cryptocurrencies, Javier Milei recently expressed his support for Libra token. However, shortly after its launch, the token collapsed due to an insider sell-off of $107 million. In total, $4 billion in market capitalization was wiped out, causing massive losses for investors.

1-hour chart of the Argentine Stock Index

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This scandal also dealt a severe blow to Argentina’s financial stability. Local investors, concerned about Milei’s economic policies, started selling off their stock holdings. The banking and industrial sectors suffered sharp losses, leading to a more than 6% drop in the Merval Index.

In the coming days, the statements from Javier Milei and the government’s response will be crucial in determining the market’s direction.

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Milei-Approved Libra Token Was Actually Known in Advance!

Yigit Taha OZTURK — Mon, 17 Feb 2025 10:30:27 +0000

The Libra (LIBRA) token, endorsed by Argentine President Javier Milei, was widely known among memecoin insiders up to two weeks before its dramatic rise and fall. Jupiter Exchange revealed that they were aware of the token’s existence long before it launched and saw public tweets from Milei confirming his involvement in the project.

Libra Token’s Collapse and Huge Losses

The Libra token experienced a sharp collapse immediately after its launch. Insider investors cashed out $107 million in liquidity within just 3 hours, leading to a $4 billion market cap wipeout. Jupiter Exchange acknowledged being informed of the token’s impending launch by Milei’s personal tweets, but emphasized that they had no involvement in the insider activities that followed.

Insider Trading Investigation Underway

Milei has requested the Anti-Corruption Office to investigate potential misconduct by government members, including himself, after endorsing the Libra token, which turned into a $100 million rug pull. Political opponents have called for Milei’s impeachment following his support for the controversial token.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

Blockchain analysis firm Bubblemaps revealed that Libra token had flawed tokenomics, with 82% of the supply being unlocked and sellable from the beginning. This contributed to the token’s rapid collapse, as early investors quickly sold off their holdings, exacerbating the crash.

Meme Coin Investments and Growing Trends

The collapse of Libra token added fuel to the growing trend of celebrity-endorsed memecoin investments, such as Donald Trump’s TRUMP token and Melania Trump’s MELANIA token. However, these tokens have seen massive losses as well, with TRUMP down 76% and MELANIA down 90% from their all-time highs.

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Milei-Backed Libra Token Crashes: $107 Million Rug Pull!

Yigit Taha OZTURK — Sun, 16 Feb 2025 09:00:01 +0000

Libra (LIBRA), the cryptocurrency backed by Argentine President Javier Milei, turned into a financial disaster just hours after its launch. Insider wallets siphoned $107 million, crashing the token’s price and erasing 94% of its total market capitalization.

Insiders Pulled $107 Million

On-chain analytics platform Lookonchain reported that at least eight wallets linked to the Libra team drained liquidity from the token, withdrawing 57.6 million USDC and 249,671 SOL (worth approximately $49.7 million).

Lookonchain stated:

“The LIBRA team has cashed out $107 million! Eight wallets linked to the LIBRA team acquired 57.6 million USDC and 249,671 SOL by adding liquidity, removing liquidity, and claiming fees.”

This massive rug pull happened just three hours after the token was listed on decentralized exchanges.

How Did Libra Token Collapse?

Initially, Libra surged to a market capitalization of $4.56 billion shortly after launch. However, following the insider cashouts, the token’s market cap plummeted to $257 million within 11 hours.

Following the collapse, Argentine President Javier Milei deleted his X (formerly Twitter) post endorsing the token. Later, he issued a statement blaming political opponents, saying:

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

“To the filthy rats of the political caste who want to take advantage of this situation to cause harm, I want to say that every day they confirm how vile politicians are, and they only strengthen our conviction to kick them out.”

Warnings Were Issued Before the Collapse

Several blockchain analysis firms had already warned investors about Libra’s flawed tokenomics. Bubblemaps revealed that 82% of the token supply was unlocked and could be sold immediately, raising serious concerns.

Additionally, the project failed to provide any preliminary information about its tokenomics—another major red flag for experienced crypto traders.

Memecoin Craze Continues

Despite the risks, celebrity-endorsed memecoins continue to attract significant investor interest. On January 18, Donald Trump launched his Trump (TRUMP) token, followed by Melania Trump‘s Melania Meme (MELANIA) token on January 19.

Although these speculative projects are highly volatile, some investors manage to profit from them. On February 14, a crypto trader made $28 million in profit by buying the Broccoli memecoin, inspired by Binance co-founder Changpeng Zhao’s dog. However, speculation remains that this wallet may have been an insider.

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