Tue Feb 18 14:22:48 UTC 2025: ## Argentine President Denies Fraud After Cryptocurrency Crash
**BUENOS AIRES** – Argentine President Javier Milei is facing fraud allegations following the rapid rise and collapse of a cryptocurrency, $Libra, which he briefly promoted on social media. The cryptocurrency plummeted shortly after Milei shared a link to it on X (formerly Twitter), leaving many investors with significant losses.
Milei maintains he did not endorse the cryptocurrency, claiming he merely “shared” a link before deleting the post hours later upon learning more about the project. He compared investors’ losses to gambling, stating in a television interview that those who took the risk should bear the consequences. The president insists he had no involvement in $Libra’s development.
Despite this, a federal judge will now determine whether to proceed with fraud charges filed against him. The incident has drawn fierce criticism from opposition politicians, who are threatening impeachment proceedings, although analysts suggest they lack the necessary votes. The scandal threatens to derail Milei’s ambitious reform agenda.
While the presidential office stated that the Anti-Corruption Office will investigate the matter, the opposition remains unconvinced by Milei’s explanations. The $Libra launch has been described by critics as a publicity stunt, highlighting growing concerns about regulation in the cryptocurrency market. The situation adds further pressure to Milei, already facing challenges implementing his radical economic policies.
First Piper 