Argentina’s President Milei Faces Fraud Allegations Over $LIBRA Crypto Promotion

Argentine President Javier Milei is facing fraud allegations after promoting the cryptocurrency $LIBRA on social media, which subsequently collapsed, leading to significant investor losses. On February 14, 2025, Milei endorsed $LIBRA, describing it as a project aimed at “encouraging economic growth by funding small businesses and startups.” However, he deleted the post hours later, and the cryptocurrency’s value plummeted, resulting in millions of dollars in losses for investors. In response, a group of Argentine lawyers filed criminal charges, accusing Milei of participating in a fraudulent scheme. The President’s Office stated that Milei was not involved in the cryptocurrency’s development and removed the post to prevent further speculation. Milei has requested the Anti-Corruption Office to investigate the matter to determine if any misconduct occurred within his administration. The case is currently under judicial review