Argentina’s President Javier Milei has denied any wrongdoing in connection with a cryptocurrency collapse that left investors facing heavy losses.
Argentina’s President Javier Milei has denied any wrongdoing in connection with a cryptocurrency collapse that left investors facing heavy losses.
| Key Takeaways: – Argentina’s President Javier Milei rejected claims that he promoted the collapsed LIBRA cryptocurrency. – Argentina’s federal prosecutor is investigating potential fraud or misconduct while opposition lawmakers consider impeachment proceedings. |
The digital asset, known as LIBRA, plummeted in value, prompting widespread complaints and potential legal action.
Speaking to broadcaster TN on Monday, President Javier Milei defended his involvement, stating, “I did not promote it, I spread it,” emphasizing that the matter is a private dispute in which the state has no role. He argued that investors were aware of the risks and disputed reports of massive losses.
“The claim that 44,000 people were affected is simply wrong,” Milei said, asserting that the actual number was closer to 5,000.
Javier Milei also downplayed the involvement of Argentine citizens, suggesting that most investors were experienced traders familiar with market volatility.
Despite his denial of government involvement, Argentina’s federal prosecutor’s office is set to investigate whether Milei engaged in fraud, criminal association, or violated his official duties by endorsing the token on social media. The controversy has intensified political tensions, with opposition lawmakers reportedly considering impeachment proceedings.
On Sunday, lawyers filed fraud complaints in Argentina’s criminal court, seeking accountability for the financial losses. The president warned that if wrongdoing is uncovered, “heads will roll.”
| Disclaimer: The information on this website is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency markets are volatile, and investing involves risk. Always do your own research and consult a financial advisor. |
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