Argentine Prez Milei Faces Probe for Crypto Fraud After Coin Crash

A judge in Argentina was selected on Monday to investigate allegations of fraud against President Javier Milei for his brief promotion of a cryptocurrency whose value collapsed within hours of its launch last week.

- Associated Press

BUENOS AIRES: Milei distanced himself from the scandal and said he acted in good faith.

Milei and his office denied involvement with creators of the $LIBRA cryptocurrency, saying he initially drew attention to it Friday as an entrepreneurial project that might benefit Argentina but learned more about it later and then withdrew his support.