President Javier Milei denies allegations regarding the cryptocurrency $Libra, which drastically fell in value after his post. He claims he acted in good faith and that investors understood the risks. Investigations by the Anti-Corruption Office and a federal judge are underway to assess potential fraud charges against him amidst growing political opposition.
Argentine President Javier Milei has refuted allegations regarding his promotion of the cryptocurrency $Libra, which experienced a significant decline shortly after his announcement on social media. Following a surge in its value, investors suffered notable losses, prompting a federal judge to evaluate whether fraud charges against the president are warranted. Milei defended his actions, claiming he acted “in good faith” and likened the investors’ plight to that of gamblers losing in a casino, stating, “If you go to a casino and lose money, what’s there to complain about when you knew the risks?”
In an interview with Todo Noticias, President Milei claimed his earlier post on X did not serve as an endorsement but rather as a mere share. He acknowledged deleting the post hours later, explaining that upon learning more about the cryptocurrency, he chose to cease promotion. Despite Milei’s justification, critics have raised concerns, suggesting that the launch of $Libra resembled a “rug pull,” where promoters defraud investors by ceasing trading abruptly.
The presidential office affirmed that Milei was not involved in developing $Libra and stated that the Anti-Corruption Office would investigate the president’s conduct. Opposition politicians remain dissatisfied, contemplating impeachment processes against Milei, even as political analysts suggest the likelihood of sufficient votes for such measures is low. Amidst this turmoil, a federal judge will adjudicate the fraud allegations presented by several plaintiffs against the president.
During his television interview, Milei maintained an assertive stance, insisting he has nothing to conceal. He reiterated that investors had voluntarily participated with an understanding of the risks involved. Describing the situation, he compared it to playing “Russian roulette and getting the bullet,” underscoring his view that the choices made by investors were made with an awareness of potential consequences.
In summary, President Javier Milei has firmly denied any wrongdoing related to the $Libra cryptocurrency incident, asserting he acted in good faith. Despite his defenses, critics remain skeptical, and legal investigations into potential fraud charges are ongoing. The unfolding situation presents a challenge for Milei, diverting attention from his broader agenda and prompting political tensions in Argentina.
Original Source: www.bbc.com