Argentine Lawyers Accuse President Milei Of Fraud Over Crypto Promotion

Argentine lawyers filed fraud complaints against President Javier Milei, accusing him of promoting a cryptocurrency on social media, the Associated Press (AP) reported.

Milei recently posted on X about $LIBRA, a coin he claimed would “encourage economic growth by funding small businesses and startups.” I Photo: Vox España

Milei recently posted on X about $LIBRA, a coin he claimed would “encourage economic growth by funding small businesses and startups.” However, he deleted the post just hours later.

The coin’s value then collapsed, causing millions of dollars in investor losses, according to financial site Dexscreener.

Lawyer Jonatan Baldiviezo, one of the plaintiffs, told the AP that they suspect an illicit scheme designed to commit “an indeterminate number of frauds.”

He added, “Within this illicit association, the crime of fraud was committed, and the president’s actions were essential.”

The cryptocurrency, developed by KIP Protocol and Hayden Davis, was available through a website called vivalalibertadproject.com, referencing Milei’s well-known slogan.

The President’s Office in a statement denied Milei’s involvement in the coin’s development, saying he removed the post to prevent speculation and limit further exposure following public backlash.