The post Argentina’s President Javier Milei Denies Promoting Libra Token appeared on BitcoinEthereumNews.com.

The collapse of the libra token triggered a number of  lawsuits and calls for his impeachment. While Milei claimed he merely “spread the word” about the token without financial involvement, critics still accuse him of market manipulation. The scandal also led to legal complaints in both Argentina and the US. Meanwhile, Solana’s ecosystem is facing bearish sentiment as meme coin collapses, including LIBRA’s, have triggered some serious concerns over insider selling and retail losses. This led many traders to take short positions on SOL. Milei Distances Himself from Libra Token Controversy Argentina’s President Javier Milei denied allegations that he promoted the controversial Libra token, which collapsed in value after a brief surge. This triggered multiple fraud lawsuits and calls for his impeachment. In a Feb. 17 interview with Todo Noticias, Milei stated that he did not endorse the token but merely “spread the word.” This was his first public response to what local media have labeled “Libragate.” Javier Milei’s interview  The Libertad project’s native Solana token, LIBRA, experienced a meteoric rise to a $4.56 billion market cap on Feb. 14, after a post by Milei on X. However, after he deleted the post, the token plunged by 94%, which led to accusations of a pump-and-dump scheme. Despite these claims, Milei insisted that he had “nothing to hide” and acted in “good faith.” He acknowledged that the incident was a learning experience, and believes there is a need to “start setting filters” on what is deemed appropriate conduct. Milei argued that any problems arising from the token’s launch should be limited to those who are directly involved. When it came to actually addressing the concerns about the 44,000 investors who may have suffered losses, he downplayed the numbers by claiming that the majority were bots. He estimated that only around 5,000…

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Filed under: News - @ February 18, 2025 9:20 am