❓WHAT HAPPENED: A congressional commission in Argentina accused President Javier Milei of involvement in a cryptocurrency fraud.
👤WHO WAS INVOLVED: President Javier Milei, his sister Karina Milei, and investors in the $LIBRA cryptocurrency.
📍WHEN & WHERE: The report was published on November 19, 2025, in Argentina.
💬KEY QUOTE: “The world wants to invest in Argentina. $LIBRA.” – Javier Milei
🎯IMPACT: Hundreds of millions of dollars were lost by investors, and legal complaints have been filed.
An Argentine congressional panel has issued a new report accusing President Javier Milei of engaging in a cryptocurrency scam after promoting $LIBRA, which resulted in a significant loss for investors. Notably, the investigation names both President Milei and his sister, Karina Milei.
Released by the Chamber of Deputies—which is controlled by parties in opposition to Milei’s government—the report states that “the facts analyzed would be compatible with an alleged fraud” and that “political responsibility” rests with Milei and his sister. Notably, the crash in $LIBRA’s value occurred in February of this year, with observers describing it as a rug pull scam that resulted in $251 million in losses.
In the lead-up to $LIBRA’s launch, there were rumors of bribes and payouts involving those close to Milei himself. Individuals who have been accused of perpetrating rug-pull crypto schemes in the past were involved, notably Hayden Davis, an American cryptocurrency marketer.
President Milei maintains that he was unaware of any of the $LIBRA project details and that he was relatively uninvolved. He did promote the cryptocurrency on X (formerly Twitter), authoring a post stating: “The world wants to invest in Argentina. $LIBRA.”
The cryptocurrency is currently the subject of legal proceedings and the Chamber of Deputies report has been sent to prosecutors. The scandal was part of a broader series of corruption allegations that rocked Argentina earlier this year and set off a currency crisis, which required the United States Treasury Department to step in and provide stability through a monetary bailout.
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