President Javier Milei recently addressed the controversy surrounding LIBRA, a meme coin project. In an interview, he denied promoting LIBRA, stating he only shared information about it to help Argentine entrepreneurs. He described the situation as a harsh lesson and plans to tighten access to him in the future.
Milei claimed that most investors affected by the LIBRA incident were experienced traders from the U.S. and China, not Argentinians. He emphasized that very few locals were financially impacted, asserting that only a handful of Argentinians faced losses.
He explained that he shared information about LIBRA shortly after its launch, which led to a significant rise in its market cap. However, a sudden sell-off caused a sharp decline, leading to accusations of a scam.
During the interview, Milei clarified that he did not endorse LIBRA but was interested in its potential to support Argentine startups. He mentioned meeting Hayden Davis, the CEO of LIBRA’s market maker, multiple times. Milei expressed that Davis proposed a framework to help finance entrepreneurial projects in Argentina, which intrigued him.
Despite the backlash, Milei maintained that he had nothing to hide. He acknowledged the criticism but refrained from calling his actions a mistake. He also noted that he is not a cryptocurrency expert but was drawn to the technology.
Since the fallout, over 100 criminal complaints have been filed against Milei and others linked to LIBRA. Opposition lawmakers have suggested impeachment, and U.S. prosecutors are reviewing the case due to Davis’s American citizenship. Milei voluntarily sought an investigation into any potential wrongdoing by government members, including himself.
He firmly denied accepting bribes related to LIBRA and stated that all cryptocurrency transactions are recorded on the blockchain, allowing for transparency. Milei reassured the public that he acted in good faith and would continue to do so.
