Crypto Trouble: Argentina’s President Under Fire.
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Argentina’s President Javier Milei is in trouble for supporting a new cryptocurrency called Libra that lost most of its value quickly. After he told people the coin was a good idea, many people bought it. But soon after, the price dropped 90% and many investors lost a lot of money.
Now a judge named María Servini is investigating. She asked the country’s central bank to open President Milei’s and his sister Karina’s bank accounts. The judge wants to see if they made any money from the Libra project. Reports say Karina Milei may have spoken with the people who made the coin before it was launched.
This situation has been called “CryptoGate” by the news in Argentina. Some people want the president to be charged with fraud or even removed from office. They believe he used his position to promote something risky and made people lose money.
The judge also froze the money of three people who helped create the Libra coin. There is video of one of their family members taking things out of a bank box the day after Milei supported the coin, which raised even more questions.
In a separate civil case, a lawyer for 25 people who lost money tried to meet with Milei in court. But Milei and his sister didn’t go, and they didn’t send a lawyer either.
President Milei says he did nothing wrong. He said he was just excited about new technology and never meant to hurt anyone.
