Argentine president Javier Milei promoted a memecoin called Libra that reached a $4.4 billion market cap before crashing 95%. After alleged insiders pocketed $87M through liquidation, Milei deleted his promotional tweet and claimed he wasn't aware of the project's details. The incident caused ripple effects across the memecoin market, including a $500M drop in TRUMP token's value.
Tesla and Elon Musk are facing declining favorability among potential EV buyers, with a new study showing Tesla has the worst favorability ratings among EV brands. Musk's recent political positioning has particularly alienated Democrat-leaning consumers, who represent the primary EV-buying demographic, while his support base shows less interest in electric vehicles.
Bernie Sanders warns of America's shift towards oligarchy, authoritarianism, and kleptocracy under Trump's second term, highlighting the growing influence of billionaires Musk, Bezos, and Zuckerberg. The speech outlines concerning actions including unconstitutional funding suspensions, mass firings of oversight officials, and media intimidation, while proposing progressive solutions like universal healthcare and increased minimum wage.