Can a country realistically raise money for national development via cryptocurrency?

Argentina infamously had the $Libra cryptocurrency scandal, where $Libra was a cryptocurrency touted to raise money for Argentina's development and was even signal boosted by the President of Argentina, only for it to turn out to be a rug pull.

I'm no stranger to crypto rug pulls, I myself lost money by investing in Trumpcoin. So when it was announced that the Prime Minister of Australia was to address the nation on live TV last night, I was partly worried that he was launching his own cryptocurrency to get rich off a rug pull.

But was it possible for $Libra or other cryptocurrencies to have been used responsibly, like for raising money for national development? Historically, countries have raised money by selling government bonds, will countries instead start raising money through crypto or is crypto simply not suited for this legitimate intention?