Published 5 days ago • loading... • Updated 3 days ago

Javier Milei’s Crypto Scandal Led to Losses for 86% of Traders

Javier Milei's endorsement of the Libra cryptocurrency caused significant losses for over 40,000 investors, totaling more than $4 billion, leading to thousands of investors being ruined after the token collapsed shortly after his promotion.
Political reactions intensified, with opposition lawmakers calling for an impeachment trial against Milei for his role in the cryptocurrency scandal.
Despite the fallout, Argentina's inflation rate slowed in January to the lowest level since 2020, and growth is projected at 5% for the year.
Civil society organization Observatorio del Derecho a la Ciudad has filed a lawsuit against Milei, alleging involvement in a scam affecting over 40,000 people.

Insights by Ground AI

Does this summary seem wrong?

12 Articles

All

Left

Center

Right

Bloomberg

Javier Milei’s Crypto Scandal Led to Losses for 86% of Traders

An estimated 86% of crypto traders that took positions in a memecoin endorsed by Argentine President Javier Milei on Friday ended up losing money, according to research firm Nansen.

3 days ago·United States

Read Full Article

BizNews.com

🔒 Milei’s crypto blunder sparks political storm - Juan Pablo Spinetto

Key topics Milei’s endorsement of Libra crypto left thousands of investors in ruin. Political fallout intensifies with attacks from both the left and opposition. Despite setbacks, Milei’s economic policies still show positive results for Argentina. Sign up for your early morning brew of the BizNews Insider to keep you up to speed with the content that matters. The newsletter will land in your inbox at 5:30am weekdays. Register here. Support Sou…

3 days ago

Read Full Article

Clarin

Cryptural scandal: what are the crimes that justice could investigate?

There are allegations of fraud, fraud and negotiations incompatible with the civil service.

4 days ago·Buenos Aires, Argentina

Read Full Article

Dagens Nyheter.

Crypto scandal pressures Milei: "Slap in the face"

Argentina's ultraliberal President Javier Milei has faced lawsuits and threats of impeachment after a cryptocurrency he promoted…

4 days ago·Stockholm, Sweden

Read Full Article

The Epoch Times

Judge Assigned to Investigate Javier Milei’s Role in Crypto Scandal

A judge has been assigned to investigate Argentine President Javier Milei’s role in promoting a cryptocurrency that crashed. The controversy erupted on Feb. 14, when Milei directed his 3.8 million followers on X to a site for a cryptocurrency project called LIBRA. “This private project will be dedicated to encouraging the growth of the Argentine economy,” he wrote in the now-deleted post. “The world wants to invest in Argentina.” LIBRA surged to…

4 days ago·New York, United States

Read Full Article

Invezz

Libra crypto scandal: 86% of traders lost money on Javier Milei-endorsed memecoin

Argentina’s President Javier Milei has found himself at the center of a cryptocurrency scandal after a token he promoted, Libra, led to massive losses for retail traders.Research firm Nansen estimates that 86% of those who invested in the memecoin lost money, amounting to a staggering $251 million in total losses.Libra’s market value briefly surged to $4.5 billion after Milei’s endorsement, only to collapse rapidly, wiping out gains for most inv…

3 days ago

Read Full Article

Think freely.Subscribe and get full access to Ground NewsSubscriptions start at $9.99/year