LIBRA MEMECOIN CRASH: 86% OF TRADERS LOST $251M

- Onchain data from Nansen Research has exposed the brutal impact of the LIBRA memecoin collapse. A staggering 86% of traders were caught in a pump-and-dump, leading to $251M in losses.

Here’s a full breakdown of what happened:

LIBRA Boom and Bust:

- LIBRA was minted on Feb 14 at 21:38 UTC.
- Just 23 minutes later, Argentine President Javier Milei shared a post about it on X (formerly Twitter).
- By 22:44 UTC, the token surged to $4.55, reaching a market cap of $4 billion.
- Within hours, the price collapsed by 95%, leaving most traders in heavy losses.

The Numbers: Who Lost & Who Won?

- Total losses: $251 million
- 15,430 wallets traded LIBRA with at least $1,000 profit/loss
- 86% of traders (over 13,000 wallets) lost money

Small traders hit hard:

- 1,478 wallets lost between $1,000–$10,000 → $4.8M total losses
-2,800 wallets lost between $10,000–$100,000 → $82.4M total losses

Big losses among high-stakes traders:

- 392 wallets lost between $100,000–$1 million → $96.5M total losses
- 23 wallets lost more than $1 million → $40.9M total losses
- Biggest single loss: Barstool Sports founder Dave Portnoy lost $6.3M.
- 15 worst wallets together lost $33.7M, with one wallet still holding 57% of its initial balance.

Profitable wallets:

- Only 2,101 wallets made money, taking home $180M in gains
- Insiders and early traders cashed out millions before the crash
- Hayden Davis (CEO, Kelsier Ventures) and Julian Peh (CEO, KIP Protocol) are key figures behind LIBRA.
- Davis reportedly made $100M but claims he doesn’t directly hold LIBRA.

Legal investigations underway:

- Burwick Law (handling Pumpfun & Hawk Tuah lawsuits) is now investigating LIBRA. The firm is gathering evidence for legal action on behalf of affected investors.
- The President claims he “only shared information” and wasn’t promoting the token.His X post was deleted within 5 hours after the controversy erupted.
- Meanwhile, Argentine opposition is calling for his impeachment over the scandal.

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