Argentinian President Javier Milei Faces Fraud Allegations Over Cryptocurrency Promotion

Milei is accused of endorsing a dubious cryptocurrency that caused investors to lose millions after a rapid collapse in value.

Javier Milei, Argentina's president, promoted the $LIBRA cryptocurrency on social media, which then saw a dramatic rise and crash in value within hours.
The cryptocurrency, described by experts as a 'rug pull' scheme, resulted in estimated investor losses of $107 million from approximately 44,000 individuals.
Milei deleted his promotional post hours later, claiming he was unaware of the project’s specifics and has since called for an anti-corruption investigation into the incident.
Critics, including opposition leaders, accuse Milei of either negligence or complicity, with some noting this is not his first controversial cryptocurrency promotion.
Legal action has been initiated, with Argentinian lawyers filing fraud charges against Milei, while the president alleges the accusations are politically motivated.