Milei Denies Promoting LIBRA Meme Coin
Argentine President Denies Promoting LIBRA Meme Coin
Argentine President Javier Milei recently addressed the controversy surrounding his involvement with the LIBRA meme coin. In an exclusive interview with Todo Noticias, Milei clarified his actions, stating that he disseminated information about the project but didn't actively promote it.
Milei acknowledged meeting Hayden Davis, CEO of LIBRA's market maker, at the Argentina Tech Forum in October 2024. Davis claims to be an advisor on the project. Following the coin's launch on February 14th, Milei tweeted his endorsement, leading to a $4 billion market cap. However, a subsequent $100 million rug pull caused him to delete the tweet.
Milei's Claims and the Fallout
In the interview, Milei maintained he shared information about LIBRA as he does with other tech projects. He emphasized the volatility of the crypto market and the experience of the traders involved. He stated that it was "a slap in the face" and acknowledged needing to learn from the experience, adding that he and his sister, the presidency’s Secretary General, will be more selective about who they interact with.
Milei asserts that few Argentinians lost money in the scandal, claiming most investors were American and Chinese. He disputes reports of 40,000 investors, suggesting the actual number is closer to 5,000. He also denied misleading investors, arguing that those who participated were experienced volatility traders.
Hayden Davis's Involvement
Kelsier Ventures, the main entity behind the LIBRA meme coin's spread, is linked to Hayden Davis. Milei confirmed multiple meetings with Davis, at least ten since the Argentina Tech Forum, where Davis proposed a funding structure for Argentine entrepreneurs.
Milei attributes his initial tweet to his enthusiasm for technology and the project's apparent potential. He stated that his "fanaticism for technology made me spread the word as soon as it was made public."
Ongoing Investigations and Legal Ramifications
Since the scandal, over 100 criminal complaints have been filed against Milei and others. Impeachment efforts are underway, and US prosecutors are exploring potential jurisdiction in the case, given Davis's American citizenship and admitted criminal actions.
Milei presented himself to Argentina’s Office of Anti-Corruption, requesting an investigation into potential government involvement. He denied bribery claims and reiterated his belief that the blockchain's record-keeping capabilities should facilitate a swift investigation.
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