Oh My! Disbelief and disappointment': how Javier Milei's bribery scandal may have derailed Argentina's crypto investment

[malaise]

https://www.theguardian.com/world/2026/apr/12/crypto-javier-milei-bribery-argentina

Milei’s promotion of crypto and the uproar over his alleged multimillion-dollar bribery come at a time when the economic reality for everyday Argentinians is grim. The libertarian president has introduced strict austerity measures to curb once-rampant inflation that triggered a recession and left many in poverty. The country is beginning to recover, but the once-rosy outlook of crypto’s enthusiastic promoters, including the president, clashes with the outlook on the ground. Regulators’ integration of crypto into the mainstream financial system has slowed in response.

On 14 February 2025, Milei tweeted his support for the $Libra token, a niche cryptocurrency purportedly “boosting the growth of the Argentinian economy”. After his tweet, $Libra quickly reached a peak price of $5 but rapidly plummeted to less than $1, wiping out 13,000 token holders’ investments to the tune of $250m.

The revelations of a financial agreement, initially published last month by the Argentinian investigative outlet El Destape, contradict Milei’s claim that he “obviously” had no connection to $Libra’s organizers, and had simply happened upon $Libra online and decided on his own to promote it.

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Show me your friends and I’ll tell you who you are

[mopinko]

1. that's something my da always said.