Cryptonews

When Milei strode to power in the elections of 2023, he did not do so with the melodious croon of a poet nor the cloak of subtlety Tolstoy’s villains favored. He arrived wielding not one, but many metaphysical chainsaws, slicing away government extravagance with a zeal most reserve for cutting birthday cakes, or possibly old grudges. His program—cheekily titled the ‘Chainsaw Cuts’—has proved more competent than a bored tax collector, banishing bureaucratic excess and shining a spotlight (albeit flickering and prone to blackouts) on the nation’s chronic waste.

Of course, as in any small Russian town, the people with real money strolled onto stage. Trading volume burst upwards by 118%—an outburst rarely seen outside of marriage proposals or vodka shortages. According to Lookonchain, which sees all but tells little, on June 23 two anonymous whales decided, in their infinite wisdom, to buy 16 million IP tokens for $47.5 million. Is it investing, or just boredom at its most expensive? Only the whales know.