18.02.2025, 16:37
The President of Argentina was accused of fraud
Source: OREANDA-NEWS
OREANDA-NEWS For the first time, Argentine President Javier Miley commented on the memcoin scandal, the collapse of which led to multimillion-dollar losses, lawsuits and fraud charges against him. According to RBC, the head of state believes that "at most four or five" Argentines suffered due to the fall in the token's exchange rate, and the main investors were "Chinese and Americans."
The Argentine leader was accused of fraud after he called on his subscribers on February 14 to invest in a cryptocurrency called $Libra, consonant with the name of the libertarian party La Libertad Avanza ("Freedom is coming"). Miley posted a message about the project with a link to the website and the address where $Libra could be found on the exchange, and a few hours later deleted it and refused to support the project, saying that he decided not to continue distributing data about it without knowing the details.
The cryptocurrency rose in price by four thousand percent extremely quickly, and then its value collapsed, falling from a peak of 4.5 billion dollars to 336 million. Against this background, more than a hundred Argentines, in whose existence the head of state, judging by his words, does not really believe, turned to law enforcement agencies. According to Izvestia, the total number of victims may reach 40 thousand people.
Miley, meanwhile, denies his dishonesty and claims that he suffered reputational losses himself. According to Reuters, the opposition in the Argentine parliament is already discussing a possible impeachment. "Prominent representatives of the crypto world are pointing fingers at each other while Miley is trying to recover from a political black eye," Bloomberg describes the situation around $ Libra.
It is possible that Miley was inspired to make such a risky move by the cryptocurrency successes of Donald Trump, whose policy he always compliments. The OFFICIAL TRUMP, presented on the eve of the inauguration, increased in price almost fivefold during the first day of circulation. Starting at seven dollars per unit, it reached 34.5. At the time of writing, it was worth $16.74.
Hayden Davis, the head of Kelsier Ventures, a company that provides and controls liquidity in the crypto markets, who participated in the launch of Trump's wife Melania's official memcoin, said over the weekend that he was an adviser to Miley, "working with him and his team on much larger tokenization and really cool things in Argentina." According to Miley, quoted by the agency, their meeting with Davis took place last month in Buenos Aires. It was about providing a digital infrastructure for Libra, allowing it to "finance entrepreneurs who do not have the ability to finance."
The Argentine leader was accused of fraud after he called on his subscribers on February 14 to invest in a cryptocurrency called $Libra, consonant with the name of the libertarian party La Libertad Avanza ("Freedom is coming"). Miley posted a message about the project with a link to the website and the address where $Libra could be found on the exchange, and a few hours later deleted it and refused to support the project, saying that he decided not to continue distributing data about it without knowing the details.
The cryptocurrency rose in price by four thousand percent extremely quickly, and then its value collapsed, falling from a peak of 4.5 billion dollars to 336 million. Against this background, more than a hundred Argentines, in whose existence the head of state, judging by his words, does not really believe, turned to law enforcement agencies. According to Izvestia, the total number of victims may reach 40 thousand people.
Miley, meanwhile, denies his dishonesty and claims that he suffered reputational losses himself. According to Reuters, the opposition in the Argentine parliament is already discussing a possible impeachment. "Prominent representatives of the crypto world are pointing fingers at each other while Miley is trying to recover from a political black eye," Bloomberg describes the situation around $ Libra.
It is possible that Miley was inspired to make such a risky move by the cryptocurrency successes of Donald Trump, whose policy he always compliments. The OFFICIAL TRUMP, presented on the eve of the inauguration, increased in price almost fivefold during the first day of circulation. Starting at seven dollars per unit, it reached 34.5. At the time of writing, it was worth $16.74.
Hayden Davis, the head of Kelsier Ventures, a company that provides and controls liquidity in the crypto markets, who participated in the launch of Trump's wife Melania's official memcoin, said over the weekend that he was an adviser to Miley, "working with him and his team on much larger tokenization and really cool things in Argentina." According to Miley, quoted by the agency, their meeting with Davis took place last month in Buenos Aires. It was about providing a digital infrastructure for Libra, allowing it to "finance entrepreneurs who do not have the ability to finance."
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