#USStablecoinBill Buenos Aires. The Argentine president Javier Milei was involved in a global financial scandal that is triggering what may be the most serious political crisis of his term, after the far-right leader promoted yesterday evening 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 in crypto assets; it later generated suspicions of fraud and ended up causing 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 minutes after the worthless coins.