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Argentina's president unveils $LIBRA token with 82% supply unlocked across connected wallets

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Questions linger over $LIBRA's authenticity as its value skyrockets, despite claims of enhancing Argentina's economy.

Argentina's president unveils $LIBRA token with 82% supply unlocked across connected wallets

Key Takeaways

  • Argentina's President Javier Milei announced $LIBRA as a digital token to support small businesses and stimulate the economy.
  • The $LIBRA token is linked to KIP Protocol, a web3 framework for AI, with partnerships involving national governance.

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Argentine President Javier Milei has introduced a token named $LIBRA, designed to stimulate the economy by funding small businesses.

However, the launch has raised concerns, as 82% of the token supply is already unlocked across multiple connected addresses—a factor that may indicate centralized control or potential manipulation.

$LIBRA has reached a fully diluted valuation of $4.5 billion within hours of its launch.

source: Dexscreener

At the bottom of the project’s website is a note reading, “Private Initative project Developed by KIP Network Inc © 2025.” This ties $LIBRA to KIP Network Inc. and its associated KIP Protocol, a Web3 framework for AI applications.

KIP Protocol, backed by Animoca Ventures, has recently been active in Argentina, joining the blockchain committee of the Buenos Aires City Government and meeting with President Milei last October.

Industry experts have highlighted the risks inherent in the token’s distribution model.

Conor Grogan, Coinbase’s head of product, urged caution, noting that established launches typically employ multi-signature wallets and strict KYC measures.

The $LIBRA token is part of the Viva La Libertad Project, which aims to support Argentina’s economy by funding local businesses and startups.

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