Argentina President Javier Milei is facing a fraud probe after promoting a cryptocurrency that crashed just hours after its launch. The $LIBRA coin, created by KIP Protocol and Hayden Davis, saw its value spike above $4 billion before plummeting amid criticism it could be a scam. Milei initially promoted the project as an entrepreneurial venture aimed at boosting economic growth in Argentina but later distanced himself from it. Lawyers have filed fraud complaints against him, alleging he was part of an illicit association to commit multiple frauds.
Source: https://apnews.com/article/argentina-milei-cryptocurrency-fraud-charges-3f572a5f294d7c25437a08151798b917