# MileiMemeCoinControversy
Argentine President Javier Milei has denied promoting a newly launched cryptocurrency which collapsed shortly after he mentioned it in a social media post on Friday.
The cryptocoin $Libra quickly rose in value before nosediving, causing severe losses for the majority of people who had invested in it.
A judge will now determine if the president should face fraud charges over the incident.
On Monday, Milei said he had acted "in good faith" and dismissed investors' complaints, comparing their actions to people who gamble: "If you go to a casino and lose money, what's there to complain about when you knew the risks?"
