LIBRA, a Solana-based project that President of Argentina Javier Milei tweeted about on Feb. 14, saw its market cap rise as high as $4.5 billion and then fall more than 80% within a couple of hours as insiders cashed out, leaving many bag holders with massive losses.

A new report cites text messages that appear to show the crypto mogul bragging about exerting some sort of control over the Argentinian leader.