What happened to $LIBRA?

After Milei's announcement, $LIBRA experienced a staggering increase in its value, rising from $0.000001 to $5.20 within minutes. However, within a few hours, its price plummeted by more than 85%, resulting in estimated losses of up to 250 million dollars for approximately 74,000 investors. It has been reported that the founders of the cryptocurrency, linked to the company Kelsier Ventures, made millions by selling their shares before the collapse, in what many consider a "rug pull" scam.

Legal and Political Repercussions

The incident has prompted a series of complaints both in Argentina and in the United States. The U.S. Department of Justice and the Argentine prosecution are investigating the case, and more than 100 complaints have been filed against Milei for alleged fraud in promoting a fraudulent cryptocurrency. Although Milei has claimed that he was unaware of the project's details and that his promotion was in good faith, the opposition has called for impeachment proceedings against him.

This scandal has sparked a debate about the responsibility of political leaders in endorsing cryptocurrency projects and the need for stricter regulation in the sector to protect investors.#JavierMilei #argentina #crypto