Home Fear & Greed Pools Wallets Dictionary Advertise Facebook Twitter Telegram Reddit Youtube
Market Cap:
24h Vol:
Cryptocurrencies: 12837
Markets: 99741
CoinInsight360.com logo CoinInsight360.com logo
ENG
EST
RUS
TUR
DEU
CHI
KOR
ITA
USD
USD
AED
AFN
ALL
AMD
ANG
AOA
ARS
AUD
AWG
AZN
BAM
BBD
BDT
BGN
BHD
BIF
BMD
BND
BOB
BRL
BTN
BWP
BYN
BZD
CAD
CDF
CHF
CLF
CLP
CNH
CNY
COP
CRC
CUC
CUP
CVE
CZK
DJF
DKK
DOP
DZD
EGP
ERN
ETB
EUR
FJD
FKP
GBP
GEL
GHS
GIP
GMD
GNF
GTQ
GYD
HKD
HNL
HRK
HTG
HUF
IDR
ILS
IMP
INR
ISK
JMD
JOD
JPY
KES
KGS
KHR
KMF
KPW
KRW
KWD
KYD
KZT
LAK
LBP
LKR
LRD
LSL
LYD
MAD
MDL
MGA
MKD
MMK
MNT
MOP
MRU
MUR
MVR
MWK
MXN
MYR
MZN
NAD
NGN
NIO
NOK
NPR
NZD
OMR
PAB
PEN
PGK
PHP
PKR
PLN
PYG
QAR
RON
RSD
RUB
RWF
SAR
SBD
SCR
SDG
SEK
SGD
SHP
SLL
SRD
SSP
STD
STN
SVC
SYP
SZL
THB
TJS
TMT
TND
TOP
TRY
TTD
TWD
TZS
UAH
UGX
UYU
UZS
VES
VND
VUV
WST
ZAR
ZMW
ZWL
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
Market Cap
24h Vol
12837
Cryptocurrencies
60.66%
Bitcoin Share
The Coin Rise 2025-02-18 09:20:22

Argentina’s President Javier Milei Denies Involvement in Libra Token Scandal

Argentina’s President Javier Milei Denies Involvement in Libra Token Scandal

Argentina’s crypto-friendly president, Javier Milei, has denied accusations that he endorsed the controversial Libra token, which suffered a dramatic collapse following his public mention. The fallout has led to multiple fraud lawsuits against him and even calls for his impeachment. In an interview with Todo Noticias on Feb. 17, Milei dismissed claims that he promoted the project, asserting, “I did not promote that. What I did, I spread the word.” This marks his first public response to the controversy, dubbed “Libragate” by local media. The scandal erupted after Milei posted about LIBRA token on X, leading to an astronomical rally that pushed its market capitalization to $4.56 billion. However, the token crashed by 94% shortly after he deleted the post, prompting accusations of a pump-and-dump scheme. Despite the backlash, Milei maintains that he has “nothing to hide” and insists that he acted in “good faith.” He also admitted that he has learned a valuable lesson from the debacle, vowing to be more cautious in filtering information before sharing it publicly. “The state plays no role here,” he stated, distancing himself from the scandal. A Political Storm Brews One of the most contentious aspects of the Libra token crash is its impact on investors . Reports suggest that around 44,000 people may have suffered losses, but Milei disputes this number, claiming that most of them were bots. “The best-case scenario is 5,000 people were involved,” Milei stated, adding that the likelihood of Argentine investors being affected is “very, very remote.” However, some in the crypto industry believe the controversy will have little impact on Argentina’s overall adoption of digital assets. María Fernanda Juppet, CEO of Argentine crypto exchange CryptoMKT, noted that most Argentine crypto transactions involve dollar-pegged stablecoins. “The Milei case does not affect crypto adoption in the country but rather opens a political discussion. It is not a rejection of technology or the change in the way money is used,” she explained. KIP Protocol Distances Itself from Libra Token Milei has admitted to previously meeting with representatives of KIP Protocol, a Web3 firm, but insists he had no prior knowledge of the specifics of the LIBRA token. He initially praised the project as a potential tool to promote Argentina’s economy but later clarified that he had “no connection” to the firm behind it. In response to the allegations, KIP Protocol has denied creating or marketing the token. The company stated in a Feb. 17 X post that its CEO, Julian Peh, did not even discuss a token launch when he met Milei in October. KIP emphasized that it was merely a tech consultancy firm hired to help distribute funds to local businesses in Argentina. Jupiter Exchange, a decentralized trading platform, has also weighed in on the situation. The exchange stated that rumors about the LIBRA token’s launch had been circulating among memecoin traders for at least two weeks before its price surge and collapse. Importantly, Jupiter claims it found no evidence of insider trading among its team members. The post Argentina’s President Javier Milei Denies Involvement in Libra Token Scandal appeared first on TheCoinrise.com .

Most Read News



Cryptohopper
Market Cap
24h Vol
60.66%
Bitcoin Share
515
Today News
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.