Argentina’s President Javier Milei faces federal investigation over his promotion of the cryptocurrency $LIBRA, which triggered a temporary market uptick but also led to a decline in the national stock index after the probe was announced.
A federal judge in Argentina has announced an investigation regarding a scandal involving President Javier Milei’s promotion of a particular cryptocurrency, $LIBRA. This announcement came shortly after President Milei recommended the lesser-known coin in a social media post, which resulted in a brief surge in its market activities. However, the market’s response was negative overall, as indicated by a decline in Argentina’s stock index following the news of the probe.
In summary, the scrutiny of President Milei’s endorsement of the $LIBRA cryptocurrency has prompted a federal investigation, contributing to a decline in the Argentine stock index. This situation illustrates the fragile intersection of politics, cryptocurrency, and financial markets in Argentina.
Original Source: www.moneycontrol.com
