The Minister of Economy weighs in on the scandal shaking Argentina as the memecoin’s collapse sparks lawsuits and an internal government investigation.
President Javier Milei has addressed the LIBRA token rug pull for the first time, denying any wrongdoing. The incident has damaged his reputation in Argentina, leading to lawsuits and calls for impeachment.
According to Bloomberg, Milei confirmed that he met with the individuals who proposed and launched the token. However, he stated that his post on X was not meant to persuade people to buy it but rather to raise awareness about an initiative supporting Argentine businesses through cryptocurrency.
In an interview with local TV network Todo Noticias, Milei said:
“I’m not an expert. My specialty is economic growth, with and without money. As a guy who’s a super technology enthusiast seeing the possibility of a tool to finance entrepreneurs’ projects, I spread the word.”
Following the token’s price collapse, the Argentine government launched an internal investigation. The president acknowledged that his openness to meeting anyone offering solutions to the country’s chronic economic problems might need to change, stating:
“The most important lesson is that I can’t keep being the same Javier Milei as always. Sadly, I have to put up more filters so that it’s not as easy to reach me.”
Minister of Economy Luis Caputo was the first cabinet member to publicly address the situation on Monday night. He described the incident as an unforced error on a niche topic and asserted that Milei had no bad intentions and had committed no crimes.
Caputo stated:
“Cryptocurrencies are a tiny, infinitesimal world. It’s a world of specialists that’s very hard to understand. I don’t understand crypto either, and it’s been explained to me 800,000 times.”
Meanwhile, the Argentine law firm Moyano & Asociados announced that it has filed a complaint with the U.S. SEC. A local judge has been assigned to investigate over 100 legal cases filed against Milei following the rug pull. Opposition leaders have called for an impeachment process, though it is unlikely to succeed as it would require a two-thirds majority in Congress.
