Argentinian President Milei Denies Involvement in Cryptocurrency $Libra Fiasco

buenos aires - Argentinian President Javier Milei denies promoting $Libra cryptocurrency after investors suffer losses, facing accusations of fraud.

President's Response to Cryptocurrency Fiasco

Argentinian President Javier Milei refutes claims of promoting $Libra cryptocurrency, stating that investors were aware of the risks involved. Milei emphasized that the investors, predominantly Chinese and American, understood the volatile nature of cryptocurrency investments.

Milei's endorsement of $Libra led to a surge in its value, reaching $4.7 before plummeting to $0.19 within hours. The resemblance of the crypto-project's name, Viva La Libertad, to Milei's political slogan raised suspicions among investors.

In the aftermath, over 112 individuals filed complaints against Milei for alleged fraud. The President, in response, instructed the anti-corruption bureau to investigate government officials in connection with the cryptocurrency scandal.

The Union para la Patria coalition aims to initiate impeachment proceedings against Milei, condemning the incident as a massive scam.