Argentina’s president, Javier Milei, found himself under fire for the rapid fall of the cryptocurrency he was promoted, in motion, which caused lawsuits and calls on his impeachment.
Milei is in the face of over 100 complaints Against him in the Supreme Court in the country, accusing him of participating in the alleged fraud related to the cryptocurrency of $ Wagra, which is estimated that opposition politicians caused financial losses for 40,000 people.
February 14 Argentine leader published a message on his account Xwhich has 3.8 million followers: “Liberal Argentina is growing! This private project will be devoted to encouraging the development of Argentina’s economy, financing small Argentine companies and undertakings. The world wants to invest in Argentina. Weight $, “he said.
Within a few minutes, Libra $ increased from a cock fraction to $ 4.97 per unit. But unfortunately for investors this journey was compact -lived. Within a few hours it dropped to USD 0.19.
Now prosecutors will determine whether there are sufficient elements to move forward with a criminal investigation against the president and another possible suspect.
Milei is accused of helping to overstate the currency price by promoting it to X, and then withdrawing his support causing the fall of cryptocurrency.
Former President of the Argentine Cristina Kirchner claimed that Milei was a “cryptographic fraud” who “, cheater”, in a long post on x in which she also accused him of transforming the country into a casino, in which there was a crunch.
“The president must come to Congress. He cannot explore, “said politician Esteban Paulon, a member of the opposing socialist party On X calling for Milei impeachment.
Since then, Milei got distanced from this fall, claiming that he did not employ Memecoin.
“A few hours ago I published a tweet, as I did countless times, about private initiatives that aim to contribute to the development of our country. I have no relationships with the company that created this cryptocurrency, nor did I receive any benefit. ” IN OX statementThe official account of the Office of the Argentine President said: “Considering the facts, President Javier Milei decided to immediately involve the Anti -Corruption Bureau (OA) in order to determine whether there is incorrect behavior from any national member of the national government, including the president himself. “
Entrepreneur Hayden Mark Davis, one of the creators of the $ Libra cryptocurrency, also blamed Milei for the fall.
“His [Milei’s] The team provided their public support during the premiere and assured me that his support would continue throughout the process, “said the American investor in a statement issued by his company Kelsier Ventures. “Despite Milei’s previous obligations and his team, they unexpectedly reversed their position, withdrawing support and removing all previous recommendations in social media,” said Davis, indicating that this failure would cause panic to the token.
“It is very important to recognize that Memecoin investments are powered by trust and support. When Milei and his team removed their positions, investors who bought the token, based their trust on this support, felt betrayed. “