Javier Milei, the president of Argentina, is embroiled in a controversy related to the Libra (LIBRA) cryptocurrency. He had announced the launch of the cryptocurrency on his official X account, promising that it would boost the Argentine economy by funding small businesses and startups.
However, the cryptocurrency collapsed just hours after its launch, losing 89% of its value and raising suspicions of market manipulation. The token’s creators withdrew around $107 million, wiping out nearly 94% of the token’s value in a matter of hours.
Milei later deleted the original post and denied any direct involvement with the token, claiming that she had only shared the project and had nothing to do with its creation or management. However, the controversy sparked outrage in the crypto community and reinforced the warning about the risks of memecoins. #JavierMilei #argentina