Crypto News: Argentine President Promotes LIBRA Token Again Amid Fraud Allegations
Anjali Belgaumkar18 Feb 20252 min read
Argentine President Javier Milei is under fire once again after reposting a controversial tutorial on how to purchase the LIBRA token on the social media platform X. This move comes despite previous statements from Milei in which he claimed he would no longer promote the cryptocurrency, following backlash for his initial involvement in the project.
The LIBRA token, which surged in value before experiencing a dramatic crash, has been at the center of criticism, with concerns raised about its potential to mislead investors. Milei’s decision to repost the tutorial has ignited outrage, particularly from opposition lawmakers, who are now pushing for impeachment proceedings against the president.
On Monday, Milei denied promoting a cryptocurrency that collapsed, causing investors to lose billions and sparking numerous complaints. Prosecutors are reportedly preparing to investigate the matter. “I did not promote it, I shared it. I acted in good faith,” Milei told broadcaster TN, stressing that it “is a private issue, with no involvement from the State.”
Opposition Calls for Impeachment Over LIBRA Involvement
The opposition argues that Milei’s actions, particularly promoting an unstable cryptocurrency, undermine his responsibilities as the nation’s leader and put Argentinians at financial risk. Critics have also pointed to his earlier deletion of a tweet promoting the token, suggesting inconsistency and a lack of accountability.
As tensions rise, the controversy has sparked a wider debate over the regulation of cryptocurrencies in Argentina, as well as the role of government figures in promoting digital assets. The situation is likely to remain a key point of contention in Argentine politics, with calls for greater scrutiny of Milei’s actions intensifying.
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