Amidst the global cryptocurrency boom, Argentina has found itself embroiled in a strong controversy following the public promotion of the cryptocurrency $LIBRA, driven by President Javier Milei. What began as a proposal for financial innovation ended up affecting thousands of people with million-dollar losses.
🧨 What happened to $LIBRA?
The cryptocurrency $LIBRA was announced as a revolutionary solution to combat inflation and decentralize the economy. For weeks, it was intensely promoted by figures from the political and media environment, which rapidly drove up its price.
But shortly after, the story took an unexpected turn: the founders and main promoters sold their stakes at the peak price, generating large personal gains and leaving the rest of the investors trapped in a steep decline in value.
📉 The result: Massive losses and distrust
Thousands of citizens who believed in the project and bought $LIBRA at its peak saw their investment plummet within days. The lack of clear regulations and the absence of a solid technical backing were key to this collapse.
🗣️ Public Reaction and Investigations
The news has generated a wave of indignation on social media, where the government is accused of participating in a pump & dump strategy (inflating the price and then selling). Although Milei denied having direct links to the creation of the cryptocurrency, his public endorsement left an undeniable impact.
Currently, financial regulatory bodies are investigating the case, and legal repercussions are expected in the coming months.
❗ Key Lesson: Always research before investing
This case becomes a clear example of the risk of following investment recommendations without technical or regulatory foundations. In the crypto world, information and caution are your best allies.