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“Libragate: Argentine President Javier Milei Denies Involvement in LIBRA Token Scandal”

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Argentine President Javier Milei Denies Promoting Failed LIBRA Token

Argentine President Javier Milei has denied allegations that he promoted the now-collapsed LIBRA token, insisting that he merely “spread the word” about it. His comments come amid multiple fraud lawsuits and growing political pressure, including calls for his impeachment, following the token’s dramatic price crash.

Milei Responds to ‘Libragate’ Scandal

During a Feb. 17 interview with Todo Noticias, Milei addressed the controversy for the first time. The scandal, now widely referred to as “Libragate”, erupted after the Libra token, linked to the Libertad project, suffered a massive decline in value.

The token, built on the Solana blockchain, experienced a sudden surge in price, reaching a $4.56 billion market cap on Feb. 14, shortly after Milei posted about it on X (formerly Twitter). However, the market quickly turned against it, and the token’s value plummeted by 94% after Milei deleted his post. This led to accusations that the president was involved in a pump-and-dump scheme.

Milei: “I Acted in Good Faith”

Defending himself, Milei insisted he had “nothing to hide” and claimed his actions were made in good faith. However, he acknowledged that he must be more cautious in the future when discussing financial matters.

“I need to set filters on what is appropriate conduct,” he admitted.

Despite the backlash, Milei distanced himself from the financial consequences of the token’s collapse. He argued that the government bears no responsibility for what happened and that any disputes should be handled by the involved parties, not the state.

“The state plays no role here,” Milei stated.

Political and Legal Fallout

Milei now faces intense scrutiny, with legal experts questioning whether his social media activity may have influenced the market in a way that violates financial regulations. Calls for his impeachment are growing louder, and fraud lawsuits continue to mount.

While Milei has denied any wrongdoing, the LIBRA token scandal raises concerns about the influence of political figures in the volatile crypto market.

As the investigation into ‘Libragate’ unfolds, Milei’s credibility is under pressure. Whether this controversy will fade away or lead to serious legal and political consequences remains to be seen. However, one thing is certain: the intersection of politics and cryptocurrency is becoming an increasingly risky territory.

Disclaimer:

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