The Argentine government announced an investigation after a cryptocurrency released by President Javier Milei Collaps in a few hours. The episode opened a crisis at Casa Rosada.
On Friday (14), Milei made a post on the social network X promoting the cryptocurrency $ Libra-which caused a shot in the value of virtual asset, which cost $ 5 each.
A few hours after publication, the value of cryptocurrency plummeted to less than $ 1 a unit. After the collapse, the post was erased from Milei’s profile at X.
The case has become one of the biggest crises since the release of the Libertarian president in December 2023.
“I was not aware of the details of the project and, when I found, I decided not to continue to check it out,” Milei said in another post after erasing the publication.
The Argentine Chamber Fintech acknowledged that the episode may potentially have been a maneuver known as “carpet pulled” or “Rug Pull” in technical jargon, where developers of a cryptors attract legitimate investors, increasing the value, and then, then, then get rid of their participation and profit quickly.
Opposition parliamentarians threaten to submit an impeachment request against Milei.
“This scandal, which shames us on an international scale, requires that we submit an impeachment request against the president,” said oppositional legislator Leandro Santoro.
On Saturday night (15) the profile of the Presidency Argentina published a text clarifying that Milei met with representatives of the company in October last year.
At the time, a “private project financing project in the Argentine Republic using blockchain technology was presented”.
Therefore, the statement adds, “the president shared the publication in his personal accounts, as he does with entrepreneurs who want to launch a project in Argentina to create jobs and obtain investments.”
But the presidency says Milei has no involvement “in any of the cryptocurrency developments.”
La Workshop Del Presidente informs that El Pasado 19 of Octubre El President Javier Milei Mantuvo Un Fourtoentro by Kip Representatives Protocol en Argentina en el who is commented with the Company of Desarrollar Un Proyect Llamado “Viva La Libertad” to…
– Workshop del Presidente (@oprargentina) February 16, 2025
Opening of investigation
Milei’s office states that the president called the “anti -corruption office to find out if there was improper conduct by any member of the national government, including the president himself.”
The statement also reports that Milei ordered an “urgent investigation” about the launch of the $ Libra cryptocurrency and “all companies or people involved in such an operation”.
For this, an investigative task force linked to the presidency will be created, “composed of representatives of organs and organizations with powers related to cryptors, financial activities, money laundering and other related areas.”
“All information collected during the investigation will be delivered to the courts to determine whether any of the companies or individuals linked to the KIP Protocol project [empresa responsável pela criptomoeda] committed a crime, ”adds the statement.
“President Milei, who demonstrated his commitment to the truth through his actions, is committed to the proper clarification of this incident to the last consequences,” he concludes.
Criminal complaint
This Sunday (16), Argentine vehicles, such as Clarín and La Nación, reported that the first criminal complaint against Javier Milei related to the case was presented.
According to the vehicles, the complaint was filed by lawyers Jonatan Baldiviezo and Marcos Zelaya, the engineer María Eva Koutsovitis and former deputy and president of the Left Party Popular Unit, Claudio Lozano.
The authors claim that the president of the “largest megagolpe in the history of this sector”.
In the document, they ask authorities to adopt “precautionary measures to protect the evidence” including a search and seizure operation at the president’s official residence and at the presidency’s headquarters “to seize all electronic equipment.”
Complainants also ask for actions such as preserving the content of Javier Milei’s profile in X, including the posts deleted, as well as the “blockages of the accused’s virtual portfolios and bank accounts.”
In addition to the crime of “illegal association”, the complaint asks the Ministry of Justice to investigate Malei for “fraud”, “non -compliance with the duties of a civil servant” and “violation of the Public Ethics Law”.
This content was originally published in cryptocurrency released by Milei Colapsa and government opens investigation on the CNN Brazil website.
Source: CNN Brasil
Bruce Belcher is a seasoned author with over 5 years of experience in world news. He writes for online news websites and provides in-depth analysis on the world stock market. Bruce is known for his insightful perspectives and commitment to keeping the public informed.
