Milei denies having promoted controversial cryptocurrency and says he acted "in good faith"

(AFP) Argentina's president, Javier Milei, denied having promoted the $LIBRA cryptocurrency, whose rise and collapse is causing a political scandal in his country and is the subject of numerous complaints of scamming. He stated that he acted "in good faith" when he disseminated information about it on Friday.

Milei has been in the eye of the storm since he announced on Friday on the X network a project to finance local companies, including a link to a digital contract to purchase a cryptocurrency created that same day. Shortly thereafter, it deleted the message disassociating itself from the initiative.

But in that span, the coin grew exponentially in value, from tenths to a peak of $4,978; the original holders sold at a profit of millions and the asset collapsed.

"I did not promote it; I spread it," Milei told TN channel, referring to the publication that he deleted shortly after and for which the opposition accuses him, among other things, of having had privileged information. This "is a problem between private parties because here the State does not play any role."

"Someone who comes and proposes me to create an instrument to fund (finance) projects; it seems interesting to me. For wanting to give a hand to the Argentines, I got a slap in the face," he added, defining himself as a "fanatic techno-optimist" and comparing the situation with the inauguration of a factory: "Are you responsible for the operation of the plant?"

A federal court was appointed this Monday to centralize the complaints that seek to determine if Milei incurred in illicit association, fraud and breach of official duties, among other crimes.

"We denounce that Milei was part of an illicit association that organized a scam with the $LIBRA cryptocurrency that simultaneously affected more than 40,000 people with losses of more than $4 billion," argued in a statement the social organization Observatorio del Derecho a la Ciudad, whose lawyers are heading one of the legal actions.

Milei affirmed that among the investors there were "very many bots" and that surely only 5,000 people had participated.

A law firm also reported Monday that it filed a complaint with the FBI and the U.S. Department of Justice (DOJ).

"We are faced with a massive fraud scheme committed not only against our clients, but against thousands of people from different jurisdictions," including many Americans, says the complaint that involves Milei and four other individuals, including Hayden Davis, one of the creators of $LIBRA.

Meanwhile, opposition legislators announced that they will promote an impeachment trial, an investigative commission and the interpellation of the president.