Argentine President Javier Milei gave his first public statements after the debacle of Libra, a crypto project he posted about on social media, before its price tanked, affecting thousands. Milei’s endorsement might have caused thousands to invest in this project, guided by a single media post.
Milei stated that he shared what he knew about Libra, explaining that it was focused on providing financing to Argentine entrepreneurs who had no access to legacy structures. However, after his post, he noticed that there was negative attention surrounding Libra.
In an interview with TN that was interrupted several times by Santiago Caputo, Milei’s political aide, the president stated:
A whole series of negative comments started to appear and, in doubt, I decided to take down the tweet. I never delete tweets. But in that context, as noise was being generated, in doubt I said, “I’m leaving, I have to run.”
Milei also rejected reports stating that more than 44,000 were affected by Libra’s downturn. He asseverated that in this number there were many bots, and that the truly affected only reached 5,000, with a very slim chance that Argentine citizens were involved.
The Argentine president stressed that all the affected were aware of the risks when entering this kind of trade, calling them “volatility operators.” “They knew very well the risk they were taking. If you go to the casino and lose money, it’s your problem,” Milei declared.
Milei noted that he did not endorse Libra and that he just shared it because he is a tech enthusiast who wanted Argentina to become a tech hub. Nonetheless, he acknowledged that this scandal taught him a lesson about the need to establish filters to limit access to him.
Finally, Milei called for an investigation of his administration to clear him of any wrongdoing in this scandal. “This is the first time anyone has asked for an investigation. Davis himself says that I was not going to take anything. I have full confidence in my officials. Nobody paid me to share it,” he concluded.
Read more: The Libra Incident: Examining Argentine President Javier Milei’s Confusing Token Endorsement and Its Destructive Aftermath
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