Argentina's President Javier Milei sparked controversy by endorsing a cryptocurrency named $LIBRA, which experienced a rapid surge in value followed by a sharp decline, fueling concerns about a possible scam.
After the backlash, Mr. Milei removed his social media post regarding $LIBRA, asserting that he had no personal connection to the token.
Former President Cristina Fernández de Kirchner highlighted the substantial financial losses incurred by many individuals as a result of Milei's endorsement, leading to allegations of fraudulent activity.
A left-leaning coalition deemed Milei's cryptocurrency advocacy as "an unprecedented scandal," prompting a political faction to call for a congressional inquiry into the matter.