Milei promoted a cryptoactive that moved millions and then collapsed

The Argentine President, Javier Mileia project based on the investment of cryptocurrencies In order to finance small businesses, but hours later he retracted and decided to “not continue to disseminate” in the middle of the collapse of the investment.

“I was not internalized from the details of the project and after having internalized I decided not to continue to dissemin La Libertad Project “, emulating its slogan” Long live freedom, fuck. “

The original post -president’s postage, with a link to the initiative and whose image is reproduced in the local press, indicated that the cryptocurrency It was “a private project” that was going to dedicate itself to “encourage the growth of the Argentine economy, anchoring (financing) small companies and Argentine enterprises.”

“The world wants to invest in Argentina. $ LIBRA ”, closed the tweet of the president, with the name of the Token, a digital value unit based on blockchain technology that has no support in real money.

Quickly, economists and specialists from the Crypto Universe of Argentina, in addition to different referents of the opposition political arch, criticized Milei and pointed out that this digital asset could be a scam or Ponzi scheme.

“The President of the Nation has just publicly launched a global scam (gross and evident). And nothing will happen, ”he wrote minutes later at X Javier Smaldone, computer specialist and recognized digital influencer dedicated to denouncing pyramid scams.

According to Smaldone and other digital finance specialists such as the magazine specialized in the capital market The Kobeissi Letter, about 80% of the asset $ Libra was in the hands of very few holders before Milei’s support.

After the president’s tweet exponentially grew its value, from tenths to a peak of US $ 4,978; The original holders began selling with a gain of millions, but the value of the asset then collapsed.

The maneuver is known in the scope of digital trading as “Rug Pull”.

Opposition referents denounced what happened, as the senator for the UCR (center) Martín Lousteau, who in his X account affirmed that “it is the second time that, as an official, (milei) advertises assets of the crypt world that end up being a scam”.

In 2021, the then deputy and today president promoted the Coinx platform, which offered earnings of 8% monthly dollars and today is also investigated for alleged scam.

In the same sense, the deputy of the Maximiliano Ferraro Civic Coalition reacted, according to which what happened with $ Libra “was a speculative maneuver that could be leveraged in the political power of the president and in the use of privileged information.”

The Congress “must constitute a Special Investigative Commission” to “clarify the facts and determine responsibilities,” he said.