Argentine President Javier Milei has defended himself against criticism for promoting a cryptocurrency whose value plummeted after his endorsement. Milei, who tweeted about the $LIBRA coin last week, claimed it would fund small businesses and encourage economic growth. However, the coin’s price soared before collapsing, leading to significant losses for investors.
Milei likened those who invested in the token to gamblers at casinos, saying they knew the risks and should not have done so. He deleted his tweet hours after posting it, citing doubts about the matter. Critics, including politicians from the Popular Unity party, have called for Milei’s impeachment and filed multiple criminal complaints against him.
The US Department of Justice has received a complaint alleging an illicit association with “an indeterminate number of frauds.” The developers behind the cryptocurrency claim they were not scammers, while Kelsier, the firm behind the launch, rejected similar accusations. Milei insists he acted in good faith and did not benefit from the coin’s success.
Source: https://edition.cnn.com/2025/02/18/americas/argentina-milei-defends-libra-crypto-tweet-intl-latam/index.html