*Buenos Aires, Argentina* – Argentine President Javier Milei is under investigation for his involvement in the promotion of the cryptocurrency token $LIBRA, which experienced a significant drop in value shortly after its launch. The allegations revolve around claims that Milei may have misrepresented the token’s potential, leading investors to incur substantial financial losses.

The inquiry has been launched by the Attorney General’s Office and seeks to determine whether Milei engaged in fraudulent practices while endorsing $LIBRA. Critics have raised concerns over his connections to the cryptocurrency and the impact of his promotional activities, particularly as the value of the token plummeted soon after becoming publicly available.

$LIBRA was introduced as a decentralized cryptocurrency aimed at offering a viable alternative to traditional currencies, and it garnered considerable attention during its initial offering. President Milei, who has championed a libertarian approach to the economy and is a vocal advocate for cryptocurrencies, was reported to have actively supported the token’s launch through various platforms.

Shortly after its introduction, however, the token’s market performance deteriorated rapidly, leading to speculation about the viability of its underlying technology and market strategy. Investors who had purchased $LIBRA in the hopes of capitalizing on its promise faced substantial losses, raising questions about the responsibilities of public figures in the promotion of financial products.

The investigation will focus on whether President Milei provided misleading information or failed to disclose vital risks associated with $LIBRA, consequently affecting investor decisions. Legal experts suggest that if found culpable, the implications could extend beyond Milei’s presidency, potentially leading to wider repercussions for the cryptocurrency market in Argentina.

This development occurs against the backdrop of Milei’s broader economic policies, which have emphasized deregulation and a laissez-faire approach to financial markets. His administration has already faced scrutiny over various fiscal measures, but this latest issue introduces a new layer of complexity to his presidency as he navigates the relationship between digital currencies and traditional financial systems.

Supporters of Milei argue that his promotion of cryptocurrencies aligns with a global shift towards digital finance, suggesting that regulatory frameworks may need to adapt to new technologies. Critics, on the other hand, caution that recent events demonstrate the risks inherent in unregulated financial products and the need for transparency in promotional practices.

As the investigation unfolds, it remains to be seen how this will affect public perception of President Milei’s administration and its economic policies. The outcome of this probe could have lasting implications for