Tue Feb 18 01:18:54 UTC 2025: ## Argentine President Milei Under Investigation for Alleged Cryptocurrency Scam
**Buenos Aires, Argentina** – Argentine President Javier Milei is facing a federal investigation into his alleged involvement in the spectacular rise and fall of the cryptocurrency $LIBRA, which cost investors an estimated $4 billion. Federal Judge Maria Servini will lead the probe, examining whether Milei acted illegally in promoting the cryptocurrency, which briefly reached a $4 billion market capitalization before collapsing.
The scandal began last Friday with the launch of $LIBRA. President Milei, a vocal proponent of free markets, used his social media to promote the coin, claiming it would boost economic growth. However, the cryptocurrency’s value plummeted rapidly, leading to accusations of a “rug pull” scam – where early investors inflate the value before withdrawing, leaving others with worthless assets.
Following the crash, Milei deleted his promotional posts and his office issued a statement distancing him from $LIBRA’s development, claiming he simply promotes various business ventures as part of his platform. This explanation has been met with skepticism.
Critics point to the cryptocurrency’s website, vivalalibertadproject.com, which uses Milei’s slogan “Long Live Liberty!”, as evidence of his involvement. Lawyers representing affected investors have filed lawsuits, alleging fraud and accusing Milei of being an essential part of an illicit association that cost thousands their savings. One developer even implicated Milei in the collapse, citing a sudden withdrawal of support.
While a government official anonymously claimed Milei himself was the victim of the scam, the accusations have severely damaged his credibility. Although impeachment is considered unlikely, the scandal could significantly impact his standing ahead of the 2025 midterm elections. Milei himself has attributed the controversy to his political opponents.
First Piper 