Argentine Parliamentary Report Labels Milei’s $LIBRA Promotion as Alleged Scam
Argentine President Javier Milei faces sharp criticism after a parliamentary investigation concluded his promotion of cryptocurrency $LIBRA in February 2025 constituted an "alleged fraud." The report, released on November 19, 2025, estimates investor losses at $400 million following a suspected rug pull.
Opposition leaders assert Milei and his sister Karina bear political responsibility for the scheme, which saw $LIBRA's value collapse hours after the president endorsed it on social media platform X. Government allies dismissed the findings as politically motivated, with one lawmaker calling the report "idiocy."
The incident highlights growing concerns about opaque cryptocurrency launches and the risks when public figures lend credibility to unvetted digital assets. Market analysts note the case may accelerate calls for clearer crypto regulations in emerging markets.
