Argentinian President Javier Milei is facing criminal fraud charges for his involvement in the collapse of the meme coin $LIBRA. Lawyers have accused him of orchestrating a "rug pull" that misled the public and resulted in significant financial losses. Javier initially promoted $LIBRA on social media but then deleted his post, causing the coin's price to plummet. The plaintiffs argue that Javier's actions constituted fraud and violated Argentina's Public Ethics Law. Javier denies any wrongdoing and claims he was not aware of the details of the project. However, evidence suggests that he and members of his administration had met with representatives of the team behind $LIBRA before its launch. The Presidential Office has stated that all information gathered will be handed over to the judiciary for investigation. The CEO of KIP Protocol, the team behind $LIBRA, publicly blamed Javier for the coin's downfall. Crypto exchange Jupiter Exchange acknowledged that some team members knew about $LIBRA's launch before Javier's tweet but denied any insider trading. Hayden Davis, the CEO of KIP Protocol, plans to reinvest and burn repurchased tokens to restore investor confidence. The scandal has left investors with significant losses, and the Argentine government is under scrutiny.



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