Why every president or politician should only trust Bitcoin for now, not any other cryptocurrency.
Interesting case study:
1. Argentina's President Javier Milei promoted $LIBRA, a cryptocurrency token, which crashed over 90% from its peak market cap of $4.5 billion. Insiders allegedly sold $107 million worth of tokens. Initially, Milei presented it as a project to boost Argentina's economy by funding small businesses and startups, but he later distanced himself from the token.
Milei's office claims he had no involvement in the token's development and deleted the post to prevent speculation.
2. Argentine lawyers are accusing President Javier Milei of fraud for promoting a cryptocurrency called Libra on social media. They're taking him to court.
3. President Javier Milei has dissolved the special investigative unit tasked with probing the $LIBRA cryptocurrency scandal, which he himself established. The unit was created to investigate alleged wrongdoing in the launch of $LIBRA, shortly after, leaving investors with significant losses.
The dissolution of the unit comes after it completed its assigned task of gathering information and submitting it to the Public Prosecutor's Office. Critics argue that this move could hinder further investigation into the scandal.
Potential Consequences:
- Criminal Charges: If investigators find evidence that Milei knowingly promoted a scam, he could face legal consequences.
- Political Fallout: The scandal has already sparked calls for Milei's impeachment and raised questions about the responsibility of public figures in promoting digital assets .
