President Javier Milei defended himself against accusations of being involved in a scam by promoting a cryptocurrency on his account. He claimed that he did not act in bad faith and has nothing to hide. Milei emphasized that he did not promote a scam, but simply disseminated information. He did not provide evidence to support his claim that the possibility of a scam is remote and pointed out that it is a private matter, as the state has no intervention in this issue.
The ultra-liberal economist promoted the cryptocurrency $LIBRA on his social media with the intention of encouraging economic growth and supporting small businesses and startups. However, after the currency suffered a significant drop, he deleted the post, arguing ignorance about the details of the project, which raised suspicions of fraud. Milei stated that he acted in good faith as a technology enthusiast.
The failed operation of the company KIP Protocol has triggered a series of lawsuits against Milei, including breaches of duty as a public official and illicit association. Opposition parties have announced they will request a political trial against the president. The complaint filed by Claudio Lozano includes allegations of fraud that would have affected tens of thousands of people with million-dollar losses.
During an interview with a media outlet, Milei attempted to downplay the impact of the scam, stating that it was not 44 thousand people involved as reported, since many of the accounts were bots. The president has faced criticism and allegations following the promotion and subsequent fall of the cryptocurrency, and it is expected that the case will continue in judicial proceedings in the coming days.
