Argentina’s President, Milei accused of Crypto fraud

A congressional commission in Argentina has accused President Javier Milei of “alleged fraud” for promoting a cryptocurrency scam earlier this year.

The report, released by the Chamber of Deputies and led by opposition lawmakers, said the evidence “would be compatible with an alleged fraud” and assigned “political responsibility” to Milei and his sister, Karina Milei, who is also his close adviser.

Investors lost hundreds of millions of dollars after Milei promoted the $LIBRA meme coin in February, writing on social media, “The world wants to invest in Argentina. $LIBRA.” Experts later said the project was a typical “rug pull,” where developers attract investors and then quickly cash out.

When $LIBRA collapsed within a day, Milei claimed he “did not know the details of the project.”

Several legal complaints have been filed against Milei and others linked to the coin. These cases have been combined under a single judge and prosecutor.

The commission said it sent its findings to the court but it is unclear whether Congress will take further action. Newly elected lawmakers, including more of Milei’s allies, are expected to take office on December 10, which could affect any legislative follow-up.

The report also noted that neither Milei nor his sister appeared for questioning, despite being summoned.