Argentina’s President Javier Milei Breaks Silence on LIBRA Meme Coin Scandal

In a groundbreaking interview with national news outlet Todo Noticias, President Milei clarified his stance on the LIBRA meme coin, distancing himself from any involvement in promoting the controversial project.

President Milei's Encounter with Hayden Davis, the CEO of LIBRA's market maker, at the Tech Forum in October 2024 was highlighted during the discussion. While Davis claims to have advised Milei on the project, the President refuted any promotion of the token.

After initially endorsing the token on social media, Milei quickly deleted the tweet in response to a swift decline in its value, which raised suspicions of insider trading and prompted accusations of rug-pulling.

During the interview, Milei maintained that he shared the project out of genuine interest and denied any deliberate promotion. He expressed regret over the incident, stating that it served as a learning experience for him and his team, including his sister Karina Milei, the presidency's Secretary General.

Looking forward, Milei pledged to implement stricter controls over access to him to prevent such incidents from recurring.

Addressing concerns about potential investor losses, President Milei clarified that the majority of those affected were not Argentinians but rather traders from China and the US. He emphasized that his intentions were to support Argentine entrepreneurs by providing them with funding opportunities through the token.

Despite not being a crypto expert, Milei revealed his enthusiasm for technology and his involvement with Hayden Davis and Kelsier Ventures in exploring potential projects for entrepreneurs in Argentina.

As the fallout from the LIBRA scandal continues, with criminal complaints and impeachment threats looming, Milei remains cooperative with investigations and insists on upholding transparency in the process.

The President's openness to scrutiny by the Justice Department and his commitment to ensuring accountability within his administration underscore his dedication to transparency and integrity in governance.

The handling of the LIBRA meme coin scandal has shed light on the complexities of digital asset markets and the importance of regulatory oversight to protect investors and maintain trust in the evolving landscape of cryptocurrency trading.