Argentine President Javier Milei is grappling with severe legal repercussions, including accusations of fraud and calls for impeachment, in the aftermath of his endorsement of the LIBRA cryptocurrency token. 

Solana-based token launchpad Pump.fun has launched a mobile, available on both iOS and Android devices, with features similar to its web interface.

Cryptocurrency exchange and wallet provider Blockchain.com has taken a new step toward a potential initial public offering (IPO) through the appointment of two new seasoned executives with financial and operational expertise.

Top stories in the Crypto Roundup today:

• Argentine President Faces Impeachment Threats Over LIBRA Cryptocurrency Endorsement
• Pump.fun Launches Mobile App for Solana-Based Token Creation
• Blockchain.com Takes New Step Toward IPO With New Hires

Argentine President Faces Impeachment Threats Over LIBRA Cryptocurrency Endorsement

Argentine President Javier Milei is grappling with severe legal repercussions, including accusations of fraud and calls for impeachment, in the aftermath of his endorsement of the LIBRA cryptocurrency token. 

Milei first endorsed the cryptocurrency as a way to stimulate the country’s economy, directing his followers to a site that aimed to raise money for small businesses in Argentina using crypto.

The price of the LIBRA cryptocurrency has since plummeted by 85%, and Milei has now distanced himself from it. The move led to accusations of him “rug pulling” investors.

Since then, lawyers in Argentina have filed criminal charges, and the opposition is threatening to initiate impeachment proceedings over concerns about the token’s decline and potential insider trading.

Milei’s office has, on the other hand, said it was unaware of exact details of the project and posted about it as it does about various projects and startups based in the country.

Despite threats of impeachment proceedings, these are unlikely to advance as they require a two-thirds majority in Congress. The political embarrassment may not lead to Milei’s ousting as he has managed to rein in inflation in Argentina, with wages and the economy growing.

Meanwhile, on-chain researchers have discovered that the team behind Libra might also be responsible for the Melania token, considering the number of similar wallets.

Pump.fun Launches Mobile App for Solana-Based Token Creation

Solana-based token launchpad Pump.fun has launched a mobile app available on both iOS and Android devices, with features similar to its web interface.

The new app allows users to create Solana-based memecoins for free, trade existing tokens on the go, and features tools for portfolio management and token monitoring.

Pump.fun’s new mobile app comes at a time in which the ongoing memecoin trend is accelerating. The co-founder and COO of CoinGecko has said on social media that 600,000 new tokens were launched in the first month of the year alone, with the figure representing a 12-fold increase over the same period last year.

The number of tokens being launched could be fragmenting available liquidity and attention. Per Ong, there are too many tokens, “each spreading the limited attention and liquidity of traders even thinner.”

Blockchain.com Takes New Step Toward IPO With New Hires

Cryptocurrency exchange and wallet provider Blockchain.com has taken a new step toward a potential initial public offering (IPO) through the appointment of two new seasoned executives with financial and operational expertise.

The firm has hired former Goldman Sachs executive Justin Evans as its new chief financial officer, and former Velocity Global CFO and Point72 portfolio manager Mike Wilcox as its new chief operating officer.

Evans, according to a Bloomberg report, said the platform is “taking the steps necessary to be a public company, if and when the public markets are available.”

Blockchain.com’s valuation has fluctuated over time. In March 2021, it secured a $300 million funding round at a post-money valuation of $5.2 billion. In 2022, the company closed another funding round that boosted its valuation to $14 billion, but in November 2023, it concluded a $110 million funding round, valuing the company at $7 billion.

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