Milei faces criminal complaints over crypto fraud affecting 40,000 investors

Argentine President Javier Milei is embroiled in controversy after promoting a cryptocurrency, $LIBRA, as a tool for economic growth, only to retract his support hours later when its value plummeted, resulting in significant losses for investors. Over 100 lawsuits have been filed against him, with accusations ranging from illegal association to fraud, claiming that more than 40,000 individuals were affected and losses exceeded $4 billion. Critics suggest the incident resembles a 'rug pull' scam, and some opposition politicians are calling for impeachment. Amid this turmoil, Milei plans a visit to Washington to seek IMF funding and support from former President Donald Trump, hoping to stabilize Argentina's struggling economy. Despite his claims of ignorance regarding the cryptocurrency’s details, evidence suggests he was actively involved in its promotion. The scandal has raised questions about Milei's integrity and the ethical responsibilities of public officials in Argentina's evolving crypto landscape.