Argentina’s Milei had phone calls with leader of LIBRA crypto project that collapsed: NYT
The president, who has denied wrongdoing, continues to be a person of interest in the federal investigation of LIBRA.
Argentina's President Javier Milei engaged in phone conversations with the leader of the collapsed LIBRA cryptocurrency project, according to a New York Times report. The president remains a person of interest in the ongoing federal investigation surrounding the failed crypto venture, though Milei has denied any wrongdoing in connection with the matter.
The LIBRA project, initially launched by Meta (formerly Facebook) in 2019, was designed as a global digital currency but faced intense regulatory scrutiny and opposition from governments and central banks worldwide. The project was eventually abandoned in 2022 after being rebranded as Diem, following sustained pressure from regulators who expressed concerns about its potential impact on financial stability and monetary sovereignty.
Milei's involvement in the investigation adds another layer of complexity to Argentina's already challenging economic landscape. The president, who campaigned on a platform of dollarization and reducing government intervention in the economy, has been vocal about his support for cryptocurrency adoption. This development could potentially influence investor confidence in both Argentina's economic policies and the broader Latin American crypto market.
Federal investigators are continuing to examine the circumstances surrounding LIBRA's collapse and any potential connections to international political figures. The timeline for the investigation's conclusion remains unclear, as authorities work to understand the full scope of the project's operations and stakeholder communications.
Source: The Block
