LIBRA Token Crash: Milei Denies Endorsing Failed Crypto

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LIBRA Token Crash: President Javier Milei Denies Endorsing Failed Crypto

Written by Aaron S.,

Editor-In-Chief

Last Updated: February 18, 2025

Key Takeaways

President Javier Milei denies promoting the LIBRA token, claiming he only shared information and did not endorse it;
He argues that most LIBRA investors were bots, and few Argentines were actually involved;
President Milei insists he had no ties to the project and will be more cautious moving forward.

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LIBRA Token Crash: President Javier Milei Denies Endorsing Failed Crypto

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Argentina’s President Javier Milei has denied claims that he backed the LIBRA token, a cryptocurrency token issued by Hayden Davis.

His critics have accused him of fraud and even called for his impeachment, but President Milei insists he simply shared information rather than promoting the project.

Speaking on February 17 in an interview with Todo Noticias, President Milei addressed the issue for the first time, saying, “I did not promote that. What I did, I spread the word”. He defended his actions, saying he had “nothing to hide” and acted “in good faith”.

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However, he admitted he needs to be more careful in the future and set clearer boundaries. He also emphasized that “the state plays no role here”, arguing that the matter should remain between the involved parties.

A major point of debate is the estimated 44,000 investors tied to the token. President Milei, however, claimed that most of these were automated accounts, estimating that only about 5,000 real people might have participated.

President Milei had previously expressed interest in LIBRA, seeing it as a potential tool to support Argentina’s economy, which he says has suffered due to years of “mismanagement”. However, he clarified that he had no direct ties to the company behind the token and did not fully understand the details when he initially mentioned it.

Recently, a group of lawyers filed a lawsuit against President Milei over his remarks on the LIBRA token. What were the allegations? Read the full story.