Imagine a super-fast rollercoaster of money! That's kind of what happened with a new cryptocurrency called LIBRA. It zoomed up in value, then crashed super fast. This happened because some people who knew about it made lots of money, but others lost a lot.
- LIBRA was a new cryptocurrency, like Bitcoin but different.
- It shot up to a $4.5 billion value, then dropped over 80% very quickly.
- A famous Argentinian politician tweeted about it, then said he didn't know about it after the crash.
- Some people think this shows the risks of new cryptocurrencies.
| Fact | Number |
|---|---|
| Peak value of LIBRA | $4.5 billion |
| Percentage drop in value | >80% |
| Money made by insiders (estimated) | $100 million |
Experts say this might make people less interested in these kinds of fast-moving cryptocurrencies. Bitcoin and Ethereum, which are more established, are still doing their own thing.
