Monero (xmr) 
Binance Founder CZ Pledges $100,000 to Support Victims of LIBRA Memecoin Scam
Changpeng Zhao (CZ), the founder of Binance, has pledged to donate 150 BNB, approximately $100,000, to support the victims of the LIBRA memecoin scam. This gesture of goodwill was made in response to a college student’s efforts to raise funds for those affected by the scam.
A Heartfelt Response from a College Student
A university student, EnHeng, was deeply impacted by the scam’s consequences and decided to take action. EnHeng shared their plan on social media, explaining why they chose to donate $50,000 and establish a BSC address to accept further donations. They acknowledged that such events can be emotionally and financially draining, especially for college students.
Today’s Rug event in Argentina has harmed many people. As a university student, I deeply understand the feeling of this impact. To help affected friends, I have decided to donate $50,000 and accept donations through a BSC address to bring warmth and support.
CZ Responds with a Generous Donation
After hearing about EnHeng’s efforts, CZ, renowned for his support of the cryptocurrency community, retweeted the post and pledged 150 BNB, approximately $100,000, to support the victims. CZ mentioned that he simply wanted to follow the university student’s example.
The LIBRA Memecoin Scam: A Cautionary Tale
The LIBRA memecoin scam began when Argentine President Javier Milei endorsed the cryptocurrency, causing its value to soar. However, the coin’s value quickly fell, resulting in massive losses for thousands of investors. Reports indicate that the LIBRA scam affected over 40,000 people and caused losses of up to $4.4 billion.
Aftermath of the Scam
Following the collapse, President Milei was accused of “betrayal” by Hayden Mark Davis, one of the main figures behind LIBRA. Allegedly, President Milei allowed panic selling by withdrawing support for the memecoin. Argentine attorneys responded by accusing Milei of “fraud,” “criminal association,” and “failure to perform public duties” in connection with LIBRA’s promotion.
The incident has increased political tensions, with opposition leaders demanding President Milei’s impeachment. Some claim that his support of LIBRA was a pump-and-dump tactic that manipulates market prices for his own benefit.
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