Buenos Aires. The Argentine president Javier Milei was involved in a global financial scandal that is triggering what could be the most serious political crisis of his term, after the far-right leader promoted last night on his X account the new cryptocurrency $Libra, 'a private project –according to his words– to incentivize the Argentine economy and fund small businesses and ventures,' which are disappearing day by day due to government economic measures.
Such an announcement initially attracted investors of the crypto asset; then it generated suspicions of fraud and ultimately caused losses to thousands of people, mostly investors with modest savings, in a context of high inflation and economic crisis.
The price of $Libra went from fractions of a cent to a maximum of 4,978 dollars minutes after the message the president sent at 7 PM on Friday, but then the quote collapsed to 0.19 dollars, in an operation known as Rugpull, a type of scam in which a developer launches an attractive token to gather contributions, then withdraws the funds, already inflated, and abandons the project to leave those coins worthless.
