ARGENTINA COMMISSION ACCUSES PRESIDENT OF $ LIBRA CRYPTOCURRENCY SCAM

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A congressional commission in Argentina released an investigative report on Tuesday concluding that President Javier Milei was involved in “alleged fraud” after endorsing a suspected cryptocurrency scheme earlier this year.

The report, issued by the Chamber of Deputies and led by opposition members, stated that “the facts analyzed are consistent with alleged fraud” and assigned “political responsibility” for the matter to Milei and his sister and close aide, Karina Milei.

Investors reportedly lost hundreds of millions of dollars on the $LIBRA meme coin, which Javier Milei had promoted in a February social media post, declaring: “The world wants to invest in Argentina. $LIBRA.”

Industry experts have described the $LIBRA incident as a “rug pull” a scam in which developers launch a crypto token, attract investors, and then quickly cash out. When $LIBRA collapsed within a single day, President Javier Milei later claimed he “did not know the details of the project.”

Since then, dozens of legal complaints have been filed against Milei and others involved in $LIBRA, with the cases consolidated under a single judge and prosecutor overseeing the investigation.

The congressional commission noted in its report that its findings were submitted to the ongoing court investigation, although any further action by Congress regarding the $LIBRA case remains uncertain.

With new legislators elected in October’s midterm elections set to take office on December 10, the incoming Congress expected to include more Milei supporters may be less inclined to pursue the matter.

The commission was unable to question the president or his sister during the inquiry, as neither appeared when summoned.