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Solana drops following LIBRA crash 📉
The ripple effects from the weekend crash of meme coin LIBRA continued to spread outward, as Solana gears up for a looming token unlock.
Stephen Graves
February 18, 2025
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📝 What you need to know
Solana dropped by over 8% Tuesday morning, amid the fallout from the weekend crash of Solana-based meme coin LIBRA and with a token unlock looming.
LIBRA’s crash continues to have knock-on effects, with Argentine President Javier Milei facing a legal probe over his endorsement of the meme coin, while the project’s adviser has been left holding a $100 million bag that he claims he doesn’t want.
Meanwhile, the co-founder of Meteora, the Solana platform behind the launch, resigned following insider trading allegations relating to the token’s launch.
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