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

Meta Maven
Meta MavenFebruary 17, 2025
Crypto Regulations
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

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Meta Maven
WRITTEN BYMeta MavenMeta Maven is a seasoned Crypto News Curator and Decent Researcher with 5+ years of experience navigating the fast-paced blockchain landscape. Having covered significant crypto events—from innovative DeFi protocols to high-profile NFT launches—Maven delivers insightful analyses backed by rigorous research and deep market knowledge. Previously a lead analyst at leading blockchain-focused publications, Maven is known for clear, concise reporting across blockchain technology, decentralized finance, NFT marketplaces, and global crypto regulations. MM ensures readers stay informed and ahead in the evolving crypto world.
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