Argentine President Milei Faces Fraud Charges Over Cryptocurrency

Fraud allegations have been filed against Argentine President Javier Milei as his promotion of a now-collapsed cryptocurrency leaves investors facing losses. Milei faces fraud charges for promoting the cryptocurrency $LIBRA. On Sunday, lawyers filed these charges in criminal court. Milei had posted about the coin on social media last Friday. Shortly after, he deleted the post. The currency then collapsed, resulting in millions of dollars in losses for investors.

The coin, developed by KIP Protocol and Hayden Davis, could be accessed through a specific website linked to Milei's speeches. Milei's office stated he was not involved in its development, and that the post was removed to prevent further speculation. The President's Office did acknowledge a recent meeting between Milei and KIP Protocol representatives. (This story was generated by Newser's AI chatbot. Source: the AP)