(C) Common Dreams
This story was originally published by Common Dreams and is unaltered.
. . . . . . . . . .
Argentina’s Milei Orders Investigation After Promoting Crypto That Cratered [1]
['Natalie Alcoba', 'Lucía Cholakian Herrera', 'Yan Zhuang']
Date: 2025-02-15
Argentina’s president, Javier Milei, has caused a political firestorm by promoting an unknown cryptocurrency token that shot up in value after his endorsement — then swiftly cratered.
In a post on social media on Friday night, Mr. Milei said that the coin, called $LIBRA, would stimulate the economy and help small businesses grow. While the sudden attention gave the token an initial boost, the huge gains were erased as fear quickly spread that the coin was a scam.
Mr. Milei deleted the post, which was on his personal account, five hours later and attempted to distance himself from the venture. “I was not familiar with the details of the project,” he wrote on X, “and after having informed myself I decided not to continue disseminating it (that is why I deleted the tweet).”
On Saturday night, in another post on X from the official presidential account, his initial endorsement of the coin was described as a routine promotion of a business. It also said the president had opened investigations into whether anyone in his government, including himself, had acted inappropriately, and whether anyone involved with the coin had broken the law.
[END]
---
[1] Url:
https://www.nytimes.com/2025/02/15/world/americas/argentina-milei-crypto-trump.html
Published and (C) by Common Dreams
Content appears here under this condition or license: Creative Commons CC BY-NC-ND 3.0..
via Magical.Fish Gopher News Feeds:
gopher://magical.fish/1/feeds/news/commondreams/
