Argentina's President Javier Milei finds himself at the center of a scandal involving the LIBRA cryptocurrency token, with allegations of corruption and manipulation sparking widespread debate.
Accusations Against Hayden Davis
The creator of the LIBRA token, Hayden Davis, claims he paid President Milei's sister, Karina Milei, for access to the inner circles of government. However, Davis denies sending such messages, stating he has no record of them on his phone.
The LIBRA Token Crash
Launched on the Solana blockchain, LIBRA reached a market cap of $4.5 billion before crashing by 95%. Davis and his company, Kelsier Ventures, reportedly made over $100 million from the rise and fall of the token. Reports indicate that the LIBRA team withdrew $107 million before the crash, raising insider trading concerns.
President Milei's Reaction
President Milei promoted LIBRA on social media but later deleted the post, claiming he was not directly involved in the project. The opposition accuses him of misleading investors, calling for impeachment proceedings. In response, the government has initiated an anti-corruption investigation, though critics see this as an effort to contain the scandal.
The LIBRA scandal continues to unfold, causing tension in Argentina's financial markets. Calls for investigations into potential misconduct and corruption are growing.
