Argentinian President Breaks Silence on Controversial Meme Coin: "I Just Shared It" - Coin Bulletin

Argentine President Javier Milei, in his statement regarding the LIBRA scandal, denied fraud allegations by stating that he did not promote the project, but only shared information.+

Argentine President Javier Milei, in his statement about the LIBRA token scandal, defended that he did not intend to promote the project, and only shared information. Milei claimed that the majority of Argentine investors were not affected, and the damage mostly covered American and Chinese investors.

As the LIBRA token scandal continues to grow, Argentine President Javier Milei finally made statements to the public. Speaking in a television interview, Milei stated that he did not promote the LIBRA token, only shared it. Following the scandal turning into fraud allegations against him, Milei stated, “Did the government lose money? No. Did Argentines lose money? Maybe four or five people. The majority of investors are Chinese and American”.

"I Shared to Support Entrepreneurs"

Milei said that the LIBRA project is not a scam and that he only shared it due to his interest in technology. He mentioned that Hayden Davis, who manages the project, presented the idea of ​​creating a financing mechanism for entrepreneurs working in the informal sector and expressed his support for this idea. "I am interested in such financing tools. I support projects like these just as a technology enthusiast", he said.

Milei's social media post was made just three minutes after the release of the LIBRA token, leading some investors to make purchases based on confidence in the project. However, the token quickly lost value, dropping by over 95%. Following this, many people alleged that the president intentionally raised the price and then withdrew support, causing investors to incur losses.

"I Need to Strengthen My Filters"

Milei said he learned from this incident and said that he needs to be more careful in the future. He used the expression “Even after becoming president, I continued to act like Javier Milei. However, this incident showed me that I need to be more careful from now on”. He added that he is an economics expert, but not an expert in cryptocurrencies and blockchain projects.

On the other hand, while new legal processes related to the collapse of the LIBRA token are initiated, the Argentine government is also conducting an investigation into the details of the incident. While discussions about the impeachment process against Milei continue, investigations are ongoing as to whether Hayden Davis, one of the names behind the project, is also responsible for the scandal.