As allegations of fraud emerge following his social media post about the $Libra cryptocurrency, President Javier Milei insists he acted "in good faith" while Congress considers impeachment threats from opposition parties.
President Milei Responds to Crypto Controversy Amid Allegations of Fraud
President Milei Responds to Crypto Controversy Amid Allegations of Fraud
Argentine President Javier Milei addresses the fallout from the $Libra cryptocurrency collapse, defending his actions while facing potential legal and political challenges.
In the wake of the $Libra cryptocurrency's dramatic decline in value shortly after Argentine President Javier Milei endorsed it on social media, the president has firmly refuted any claims of wrongdoing. On Monday, Milei emphasized in an interview with Todo Noticias that he did not promote the cryptocurrency, but merely shared a link, and dismissed the harsh backlash he faced from investors and political rivals.
Following the coin's rapid rise and subsequent crash, which resulted in significant losses for many investors, a judge has now been assigned to explore the possibility of fraud charges against Milei. During the interview, he continued to defend his actions while drawing parallels between cryptocurrency investment and gambling, saying, "If you go to a casino and lose money, what's there to complain about when you knew the risks?"
After a brief hiatus from social media, Milei explained his decision to delete the post about $Libra, stating that he had not been aware of the project's specifics at the time. In the aftermath, his administration insisted that he had no role in the cryptocurrency's creation, while the Anti-Corruption Office will work to clarify any potential impropriety in Milei's involvement.
Despite his assertion of innocence, opposition parties are pushing for impeachment proceedings against the president. Political analysts suggest that while the chances of success in impeachment are slim due to a lack of required votes, the ongoing scandal may distract Milei from pursuing his significant reform agenda.
Milei reiterated that those who invested in $Libra did so voluntarily, reinforcing his view that the situation was akin to "playing Russian roulette." As the investigation into the fraud allegations proceeds, Milei's administration faces heightened scrutiny and pressure from political adversaries eager to capitalize on the controversy.
