- $LIBRA Token Launch Raises Red Flags – Argentina’s President Javier Milei introduced $LIBRA to boost small businesses, but concerns emerged as 82% of the supply is already unlocked across connected addresses, suggesting centralized control or possible manipulation.
- KIP Network Inc. Connection – The token is linked to KIP Network Inc. and its KIP Protocol, a Web3 AI framework backed by Animoca Ventures, which has been actively engaging with Argentina’s blockchain sector and President Milei himself.
- Industry Experts Warn of Risks – Experts, including Coinbase’s Conor Grogan, caution that $LIBRA’s distribution model lacks transparency, as secure launches usually involve multi-signature wallets and strict KYC procedures.
In a bold move aimed at revitalizing Argentina’s economy, President Javier Milei has rolled out a brand-new token, $LIBRA—a digital asset supposedly designed to fund small businesses and drive economic growth.
Sounds promising, right? Well, hold on. The launch, despite generating a whirlwind of excitement, has raised a few serious eyebrows.
Centralization Fears? 82% of Supply Already Unlocked
One glaring issue? A whopping 82% of $LIBRA’s total supply is already unlocked—not sitting in a secure, multi-signature treasury, but scattered across multiple connected addresses. That’s got analysts sounding the alarm bells, pointing to the potential for centralized control, insider allocations, or worse—manipulation.
Despite these concerns, the market reacted explosively, pushing $LIBRA’s fully diluted valuation to $4.5 billion within mere hours of its debut.
Who’s Really Behind $LIBRA? Tracing It Back to KIP Network Inc.
A deep dive into the project’s website reveals an interesting detail—fine print at the bottom that reads:
“Private Initiative project Developed by KIP Network Inc. © 2025.”
So, what’s KIP Network Inc.? Turns out, it’s the company behind KIP Protocol, a Web3 infrastructure project focused on AI applications. Even more intriguing, KIP Protocol is backed by Animoca Ventures, a heavyweight in the blockchain investment space.
The connection doesn’t stop there. KIP Protocol has been making big moves in Argentina, recently joining the Buenos Aires City Government’s blockchain committee and even meeting with President Milei himself last October.
Experts Sound the Alarm on $LIBRA’s Distribution Model
As hype builds, industry veterans are urging caution. Among them, Conor Grogan, Coinbase’s head of product, who noted that well-structured token launches typically employ strict KYC processes and multi-signature walletsto prevent shady activity.
“Without these safeguards in place, you risk a launch that’s easily manipulated by a small group of insiders,” he warned.
The Big Picture: Hype vs. Reality
The $LIBRA token is part of the Viva La Libertad Project, a grand initiative aimed at supporting Argentina’s economy through crypto-powered funding.
But whether it becomes a true economic catalyst or just another overhyped digital asset—well, that remains to be seen. The only thing we know for sure, is that price has plummeted 85% over the last few hours, and has very little chance of surviving into the future. Stay safe!
