{"id":126785,"date":"2025-04-09T10:16:29","date_gmt":"2025-04-09T10:16:29","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=126785"},"modified":"2025-04-09T10:16:29","modified_gmt":"2025-04-09T10:16:29","slug":"argentine-lawmakers-back-milei-probe-in-libra-crypto-scandal","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=126785","title":{"rendered":"Argentine lawmakers back Milei probe in Libra crypto scandal"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsLawmakers in Argentina\u2019s Chamber of Deputies backed an investigation into President Javier Milei\u2019s alleged involvement in the Libra (LIBRA) cryptocurrency scandal.<br \/>\nAccording to an April 8 report by local news outlet Buenos Aires Times, deputies in the lower house voted 128 to 93 in favor, with seven abstentions. The same proposal previously failed to move forward in the Senate.<br \/>\nThe news follows Milei promoting the LIBRA memecoin on social media. With the Argentine president leveraging his credibility as a government official and his 3.8 million followers, the token quickly reached $5, briefly touching a market cap of $4 billion.<br \/>\nMilei has since faced accusations of wrongdoing, with critics claiming that LIBRA was a rug-pull scam and that he lured investors in. Lawyer Jonatan Baldiviezo, alongside Marcos Zelaya, engineer Mar\u00eda Eva Koutsovitis and economist Claudio Lozano, a former head of Argentina\u2019s central bank, filed a lawsuit against Milei,\u00a0accusing him of fraud.<br \/>\nRelated: KIP Protocol reveals involvement in Javier Milei-endorsed Libra rug pull<br \/>\nA presidential-scale disaster<br \/>\nAccording to Baldiviezo, Milei\u2019s promotion was instrumental in an \u201cillicit association\u201d with the promoters of the cryptocurrency. The non-governmental organization Observatorio del Derecho a la Ciudad shared the concerns and filed a case that accused the president of promoting a scheme that reportedly resulted in over 40,000 investors losing more than $4 billion.<br \/>\nFebruary onchain data showed that the hardest hit investors of the LIBRA memecoin pump and dump scheme lost a combined $251 million. Blockchain data shows that of the 15,430 wallets that sold at a profit or loss of more than $1,000, over 86% of those sold at a loss, resulting in a total of $251 million lost.<br \/>\nDespite numerous sources showing his social media posts, in mid-February, Milei denied claims that he promoted LIBRA. He said at the time:<br \/>\n\u201cI did not promote that. What I did, I spread the word.\u201d<br \/>\nRelated: Javier Milei risks impeachment after endorsing $107M Libra rug pull<br \/>\nA reported family business<br \/>\nOne of the creators behind the controversial Libra crypto token reportedly sent a text message bragging about being able to pay Argentine President Javier Milei\u2019s sister in exchange for the president sharing the memecoin\u2019s details on social media. According to February reports, Hayden Davis \u2014 a person connected to the project \u2014 sent a message to a crypto investment firm executive saying that he could pay Karina Milei for \u201ccontrol\u201d over the Argentine president:<br \/>\n\u201cWe can also have Milei tweet and meet in person and do promo.  I send $$ to his sister and he does whatever I say and does what I want.\u201d<br \/>\nMagazine: Memecoins are ded \u2014 But Solana \u2018100x better\u2019 despite revenue plunge<a href=\"https:\/\/cointelegraph.com\/news\/argentine-lower-house-backs-probe-into-milei-s-libra-scandal?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsLawmakers in Argentina\u2019s Chamber of Deputies backed an investigation into President Javier Milei\u2019s alleged involvement in the Libra (LIBRA) cryptocurrency scandal. According to an April 8 report by&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126785"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=126785"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126785\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=126785"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=126785"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=126785"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}