Argentinian president Javier Milei faces the media storm he sparked by promoting the Libra cryptocurrency. Despite the ongoing accusations and investigations, the Head of State rejects all responsibility until minimizing the case by calling it “gossip of hair salon”.
When the Argentinian president promoted Libra …
It all started on February 14, 2025, when Javier Milei shared information on the social network X on the launch of the Libra cryptocurrency. He then presents it as a private initiative aimed at stimulating the Argentine economy by funding small businesses and startups.
After its promotion, the value of the token has skyrocketed, going from 0.000001 to $ 5.20 in 40 minutes. An ascent that was short -lived: a few hours later, Libra lost 94 % of its value. A fall causing suspicion of Rug Pull, a technique of developers which consists in attracting investors to raise the value of the crypto before withdrawing their funds.
Indeed, according to on-chain analyzes, 8 portfolios associated with the Libra team would have recovered $ 107 million at the highest, leading to a drastic fall in the market capitalization of cryptocurrency, going from $ 4.56 billion to $ 257 million in the space of 11 hours.
🪙 What is a same?
Faced with the controversy, the Argentinian president deleted his message and claimed that he had not been informed of the details of the project before promoting it. He pleads good faith.
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Javier Milei speaks on Libra
After this scandal, the political opposition considered a dismissal procedure, and Complaints were filed against Javier Milei and project promoters. While an investigation is still underway, Javier Milei persists in denying any involvement, saying that ” Those who participated there did their own freeze, No one forced them », During an interview with the LN+channel.
“” A third -party problem with third parties is neither a problem for me nor for my officials “, He added. While a New York Times article evoked the ” largest flight of cryptocurrencies never recorded “, The president called this article” Hairdressing Ragots », Insisting that the case is now in the hands of justice.
🗞️ in the news on Libra: The United States Ministry of Justice has launched an investigation
The president revealed during the interview to have wanted to tweet on the crypto after he was told of a ” instrument “Of funding in favor of” people who worked as programmers in artificial intelligence and software development ». He would have withdrawn his publication after having ” suspicion ».
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