Argentine President Denies Promoting LIBRA

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Argentina’s president, Javier Milei, has denied accusations that he endorsed the controversial Libra token, which quickly plummeted in value and led to several fraud lawsuits against the crypto-friendly leader, as well as calls for his impeachment.

“I did not promote that. What I did was share information,” Milei stated in a February 17 interview with Todo Noticias, marking his first public comment since the Libra token incident, dubbed “Libragate” by local media.

The Solana-based token, Libra (LIBRA), associated with the Libertad project, surged to a market capitalization of $4.56 billion on February 14, shortly after Milei mentioned it on X. However, the token’s value dropped by 94% after he retracted his post, leading to accusations of a pump-and-dump scheme.

Milei insists he acted with “good faith” and has “nothing to hide,” but recognized the necessity of “learning something” from the experience, including implementing “filters” to determine appropriate conduct.