Argentina President Faces Fraud Charges
Argentina’s President, Javier Milei, is facing criminal fraud charges brought by Argentine lawyers after his promotion of a cryptocurrency that subsequently plummeted in value.
On Friday, Milei posted on X about $LIBRA, emphasizing its potential to “encourage economic growth by funding small businesses and startups.”
However, just hours later, Milei deleted the post, and the token’s value crashed, resulting in millions of dollars in losses for investors.
The President’s Office released a statement the following day, explaining that the post was removed to “avoid speculation and limit further exposure” in response to public reactions to the project’s launch.
The statement also asserted that Milei was not involved in the development of the cryptocurrency.
