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Argentina, shaken by a permanent economic crisis, now sees his President Javier Milei plunges into a legal storm associated with a crypt pound. While Milei, Cantor of Libertarianism, promised a monetary revolution, a promotional tweet deleted in collisions and opaque transactions caused a significant investigation. Between speculative flights, suspicion of pumps and crime and criminal proceedings, the shadow areas reveal the ecosystem in the search for credibility.
Libra: A dazzling ascent and a suspicious fall
It all starts with a tweet. 17 February 2025, Javier Milei, a follower of breaking statements, praised the merits of the pound, the same corner based on Solana. “The world wants to invest in Argentina,” says millions of subscribers.
Result? The value of the pound will fly and in a few hours it will reach $ 4.5 billion. Spectacular but ephemeral performance.
However, behind this euphoria, it hides a disturbing mechanics behind this euphoria. A handful of wallets that hold most of the libra tokens are disposed of shortly after the top. Hayden Davis, an entrepreneur associated with Kelsier, admits that he received $ 100 million thanks to the project. Chance? The prosecutor is obvious: the pound resembles an organized dumping operation that uses presidential influence.
Milei is quickly distanced. His promotional tweet is deleted and his lawyers cause “ignorance of crypto mechanisms”.
Too late. Fraud complaints accumulate, and Eduardo Taiano prosecutor requires freezing assets associated with pound – nearly $ 100 million in crypto – as well as access to deleted publications. Argentine regulators, supported by Interpol, are now monitoring these funds through international stock exchanges.
Crypto, politics and contradictions: double game Milei
Javier Milei, often praised by bitcoiners, appears here in paradoxical light. According to a man who compares the state with the “mafia gang” sirens of Shitcoins? In fact, his support pound – token without real usefulness, unlike bitcoins – shocks purists. Maximalists condemn the betrayal of libertarian principles, where the crypto would descend more to a speculative instrument than to the monetary revolution.
This matter also raises new legal questions. How to continue the President in the Office for Fraud of Decentralized Assets? Taiano focuses on international cooperation, demanding platforms such as binance or Kraken, that they block suspicious transactions. A technical and political challenge in a country where crypto legislation remains unclear.
The pound survey could mean a turning point for crypto in Argentina and beyond. If Milei also escapes direct sanctions, the frost of funds and judicial pressures illustrates the growing desire to regulate the sector perceived as a jungle. However, as shown in the example of the Salvador, where Nayib Bukele persists when buying bitcoins despite the AMF warning, it reports oscillates between repression and adoption.
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Evariste, fascinated by Bitcoin since 2017, has not stopped documenting on this topic. If his first interest focused on trading, he now tries to actively understand all cryptocurrency progress. As an editor, he tries to permanently provide high quality work that reflects the condition of the sector as a whole.
Renunciation
The words and opinions expressed in this article are involved only by their author and should not be considered investment counseling. Do your own research before any investment decision.