argentine President Clarifies Involvement in LIBRA Memecoin Controversy
Argentine President Javier Milei has denied promoting the LIBRA memecoin, which recently experienced a dramatic price surge and crash. He claims he onyl shared information about the token and did not encourage investments.
Milei downplayed the impact on Argentina, stating that only a few local investors where affected. He noted that most traders were from China and the U.S. Contrary to reports of 44,000 affected investors, Milei said the real number was closer to 5,000, mostly experienced traders aware of the risks.
Milei clarified that he shared information about LIBRA in good faith, just as he has done with other tokens. He emphasized that the issue was a private financial matter, not involving the government.
- LIBRA gained attention after Milei mentioned it publicly.
- Its price surged from zero to over $4, then plummeted to less than 50 cents.
- early investors reportedly cashed out over $100 million.
Milei acknowledged the political backlash and lessons learned. He realized the need to be more cautious after becoming president. Despite his defence,opposition leaders are calling for his removal,alleging deception.
The nation’s anti-corruption office and a legal probe are investigating the incident. The S&P Merval stock index fell by about 5%,affecting Argentina’s financial markets. The debate continues as Milei’s management faces increased scrutiny.
