The president assumed that the risk was implicit in the use of a cryptocurrency and acknowledged that someone owned 1.7 million tokens, the price of which could be manipulated. The scheduled tweet from President Javier Milei promoted the launch of $LIBRA and the purchase orders for the first tokens had no more than half a second difference, ensuring that this information was shared by those responsible for $LIBRA.
Javier Milei made his first public appearance after the scandal, emphasizing that he disseminated, but did not promote, the project. He confirmed that the tech entrepreneur Hayden Davis, known last October, proposed creating LIBRA. The owner of Kelsen Ventures also spoke out, stating that the use of this cryptocurrency did not meet Milei's expectations, being hoarded by few hands that eliminated its value by withdrawing large amounts in a few hours.
Part of Milei's team was instructed to withdraw the crypto assets to obtain liquidity, while it remained uncertain how "La Libertad Avanza Proyect," the fund destined for the resources raised with LIBRA, would operate. The president clarified that his initial support was an act of good faith and that he was not aware of subsequent operations.
In the world of cryptocurrencies, LIBRA was classified as a "memecoin," with a highly speculative nature and short lifespan. It is questioned whether the president and his team were involved in promoting the cryptocurrency, as executing that action required prior information and willingness to use it, posing an ethical dilemma regarding who benefited in advance.
The initial goal of $LIBRA, according to the president, was to finance Argentine entrepreneurs; however, the reality of the current situation casts doubt on this premise. The president indicated that the dissemination of LIBRA was agreed upon with a figure close to Milei, from whom two tweets and a video were expected, although this individual was not identified.
