Argentine President Javier Milei faces allegations of promoting the failing cryptocurrency $Libra, which resulted in investor losses. He denies any wrongdoing, stating he acted in good faith without endorsing the crypto. The incident has led to calls for impeachment and a judicial inquiry into potential fraud.
President Javier Milei of Argentina has unequivocally denied allegations of promoting a newly launched cryptocurrency known as $Libra, which experienced a rapid decline in value shortly after his endorsement on social media. Following a surge in price, many investors suffered significant losses as the coin plummeted. A judicial investigation is underway to determine whether fraud charges should be filed against Milei regarding this matter.
In an interview with Todo Noticias, President Milei defended his actions, stating that he had operated with “good faith,” and suggested that investors should not complain about losses akin to those experienced in a casino. He clarified that his social media post, containing a link to $Libra, was not an endorsement but merely a sharing of information.
Despite receiving heavy criticism for his actions, both from political adversaries and disappointed investors, Milei deleted his initial post hours after it was made. The presidential office has asserted that he was uninvolved in the creation of $Libra, and the Anti-Corruption Office will investigate the situation further.
Milei justified his deletion of the post by claiming he lacked complete knowledge about the project at the time. While he contends that investors voluntarily participated and were aware of the risks, opposition leaders continue to threaten impeachment proceedings against him, although political analysts suggest that these efforts may not gather sufficient support within Congress.
A federal judge has been assigned to assess whether the fraud allegations against Milei, presented by various plaintiffs, merit further action. During the TV interview, the president emphasized his transparency, maintaining that he had “nothing to hide” and reiterated that investing in $Libra was a voluntary decision, likening it to the dangerous gamble of “playing Russian roulette.”
In summary, President Javier Milei has categorically denied endorsing the collapsing $Libra cryptocurrency, attributing the loss to investor risk-taking akin to gambling. He insists on his good faith and transparency, although his actions have prompted investigations and potential impeachment threats from opposition leaders. The unfolding situation may distract from his broader reform agenda as judicial scrutiny intensifies.
Original Source: www.bbc.com
