Tue Feb 18 16:27:21 UTC 2025: ## Argentine President Milei Under Investigation for Cryptocurrency Promotion

**BUENOS AIRES, Argentina (AP) —** Argentine President Javier Milei is facing a fraud investigation following his promotion of a cryptocurrency, $LIBRA, that experienced a rapid collapse after its launch last week. A judge has been assigned to the case, which stems from complaints filed by lawyers on Sunday.

Milei initially touted the cryptocurrency on social media as a project aimed at boosting Argentina’s economy by funding small businesses. The coin briefly reached a market capitalization exceeding $4 billion before its value plummeted, resulting in significant losses for investors. He later deleted his endorsement, claiming he was unaware of the project’s details and accusing political rivals of exploiting the situation.

The president’s office maintains that Milei had no involvement in the cryptocurrency’s development, asserting that he simply promoted it as one of many entrepreneurial projects. They also stated that the country’s Anti-Corruption Office will conduct its own investigation.

However, lawyers representing the plaintiffs contend that Milei’s actions were part of an illicit scheme to defraud investors. They allege his promotion was instrumental in the fraud. Public protests have also emerged, with demonstrators expressing their anger and skepticism towards the President’s involvement.

The investigation, assigned to Judge María Servini of Federal Court No. 1 in Buenos Aires, is ongoing with no set deadline for completion. The incident has dominated headlines in Argentina, sparking widespread debate and highlighting concerns about the regulation of cryptocurrencies in the country.

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