Argentina President Milei Faces Fraud Charges Over LIBRA Cryptocurrency

Argentinian President Javier Milei is under investigation for his promotion of the $LIBRA cryptocurrency, which saw its value plummet following his endorsement. An official probe is being conducted by Argentina's Anti-Corruption Office to determine if any misconduct or fraud occurred, with accusations suggesting that Milei's actions contributed significantly to the project's collapse. Lawyers have filed criminal fraud charges against him, claiming that the promotion constituted an illicit association, and they are calling for accountability amid allegations of a 'rug pull' involving substantial financial losses for investors. The LIBRA token initially surged to over $4 billion but crashed dramatically shortly after, raising concerns about financial irregularities and insider trading. While Milei denies any wrongdoing and attributes the failure to a lack of due diligence, his political opponents are considering impeachment proceedings. The investigation will assess all links between Milei, KIP Protocol, and the cryptocurrency's launch to determine potential legal violations.