LIBRA Team Spends $61.59M USDC to Buy 456K SOL

A new step of the scandalous $LIBRA has sparked a new quarrel in the crypto-community. The LIBRA (ticker LIBRA), an early 2025 project on Solana, reached an explosive attention thanks to an Argentine President Javier Milei promotion. The token which was initially being pitched as the liberty finance to small businesses soon became a controversy.

In February 2025, the team purportedly rugged the project by withdrawing the liquidity and cashing over 99 million dollars in various wallets. Circle also responded by freezing more than $58M USDC connected to LIBRA wallets. The probe in Argentina began, and the property was confiscated and imprisonment charges were made.

The LIBRA token is not halted on SOLAna DEXs such as Raydium regardless of the scandal. Nonetheless, it is trading at a fraction of its peak, and the liquidity and volume are extremely low. The recent on-chain activity is an indication of a possibly long-term strategy, although there is still doubt.

Community Response and Conjecture

The reason why it was being bought is still hotly debated by the crypto community. There were also positive user sentiments, describing it as a bullish action on Solana. Others continue to be very skeptical referring to it as market manipulation and the extension of the sca-sca-sca behavior by the team.

It has also been speculated that the team is gearing up to re-enter or future promotion move since the value and exposure of SOL in the crypto economy are high.

Market and Ecosystem Environment.

Solana remained around steady at approximately the price of $135 on the transactions and did not see any significant pump even after the significant buy. This implies that the trades must have been implemented in a controlled way so as to prevent price slipping. The transaction shows that the whales are active on Solana, which proves it useful as a high-speed environment to conduct large-scale swaps. It also highlights how infamous initiatives such as LIBRA are still affecting on-chain flows even though they have been plagued in the past.