Argentina’s Javier Milei is in big trouble. According to reports, Milei spent his week promoting an unheard of cryptocurency — until the backlash came.
The Lowdown
According to Argentinian media reports, the country’s President Milei is under fire this morning amid claims he promoted a scammy cryptocurrency coin to investors. A coin that has already spiked and then nosedived in worth causing huge losses for thousands of investors of all sizes.
Reports say the scandal began after Milei posted this message to his X account (which has since been deleted.)
“This private project will be dedicated to encouraging the growth of the Argentine economy,” he wrote, with a detailed link to the $LIBRA cryptocurrency project.
That post didn’t last long before it was replaced with a post claiming Milei had no knowledge of the coin or its initiative.
The coin has since lost roughly 95% of all of its value.