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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 免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。

Argentine president Javier Milei is defending himself amidst accusations of fraud and calls for impeachment following his promotion of the $LIBRA token. Speaking during an interview with Jonatan Viale on TN’s “¿La Ves?” on Monday, Milei claimed he simply shared information about the project rather than actively promoting it. “I didn’t promote it, I shared it,” Milei explained. “I did it because I’m a fanatical techno-optimist.” “I acted in good faith and I got slapped,” Milei said, addressing the controversy. He maintained that the incident affected only a small number of Argentines, with most investors being Chinese and American. Explaining the reason for sharing, Milei stated that he shared the $LIBRA token information because he is enthusiastic about such projects and discovered it shortly after its creation. “I shared this like I shared hundreds of things. My tweet was three minutes after the coin was created because I am a fan of this stuff,” he mentioned. Milei claimed that those who invested in $LIBRA were well aware of the risks involved. He disputed claims of widespread impact, insisting that the actual figure was far less than 44,000. “The claim that 44,000 people were affected is simply wrong. The real number is closer to 5,000, at most. And it’s highly unlikely any Argentinians were involved. These are sophisticated traders, volatility traders who knew what they were getting into,” he asserted. “…they did it voluntarily.” The president revealed he met Hayden Davis, who facilitated the token launch , at Casa Rosada in October 2024. He said that Davis proposed creating a financing structure for entrepreneurs lacking traditional funding options. “When the Libra thing became public, I spread the word,” Milei said, explaining that his first tweet was to help Argentines who do not have access to traditional financing. When asked why he deleted the tweet, Milei said he removed it due to negative feedback. “When people started saying my account was hacked, I pinned the tweet to show it was really me. But then the negative comments piled up, so I took the tweet down to avoid confusion. I never actually deleted it, though – I just hid it,” he said. He denied government involvement in the operation but warned that “if the justice system determines otherwise, heads will roll.”

Monday is a holiday in the US for Presidents’ Day, so traditional markets are closed. Crypto markets never close, but they are already showing signs of weakness as another week begins. There are several Federal Reserve speeches to look out for this week in addition to manufacturing and services purchasing manager’s indexes. “Inflation is officially at its highest in at least 8 months, and [stock] markets are nearing all-time highs,” observed the Kobeissi Letter. Economic Events Feb. 17 to 21 Both CPI and PPI reports came in above projections last week. The forward-looking producer-price index reflected the persistence of inflation, hinting at higher February CPI readings. There are some housing reports due out this week, but they have little bearing on high-risk assets such as crypto. The Federal Open Market Committee (FOMC) January meeting minutes will be aired on Wednesday, providing reasoning behind the central bank’s decision to keep interest rates unchanged and potential insight into future rate cuts. Philadelphia Fed President Patrick Harker, San Francisco Fed President Mary Daly, Chicago Fed President Austan Goolsbee, and St. Louis Fed President Alberto Musalem will also deliver remarks this week. February’s S&P Global Manufacturing PMI and Services PMI preliminary readings are due on Friday. These reports are leading indicators used to gain insights into changing economic conditions. January’s Michigan Consumer Sentiment Index and Inflation Expectations are also due Friday, offering the results of a monthly survey of consumer confidence levels and views of long-term inflation in the United States. Key Events This Week: 1. US Markets Closed – Monday 2. January Housing Starts data – Wednesday 3. Fed Meeting Minutes – Wednesday 4. January Existing Home Sales data – Friday 5. 10 Fed speaker events this week 6. ~20% of S&P 500 companies report earnings Short but busy… — The Kobeissi Letter (@KobeissiLetter) February 16, 2025 Retail giant Walmart, along with US-traded Chinese e-commerce companies Alibaba and Baidu, are set to deliver earnings reports this week. Crypto Market Outlook Crypto markets have retreated again this Monday morning with a 2.3% slide on the day, dropping total capitalization to $3.33 trillion. Markets remain at the lower bounds of a three-month sideways channel with support at $3.25 trillion. Bitcoin lost 1.3% on the day, falling to just over $96,000 during early trading in Asia, having spent most of the weekend in the mid-$97,000 level. The asset has also been range-bound for the past three months. Ethereum remains weak having fallen below $2,700 as its tightly bound channel continues sideways. ETH has been in a downtrend since early December, when it topped $4,000 briefly. Altcoins are generally mixed at the moment with minor gains for Binance Coin, Cardano, and Hyperliquid, and minor losses for Solana, Sui, and Litecoin. The post 3 Things That Could Impact Crypto Markets in the Week Ahead appeared first on CryptoPotato.

Argentine President Javier Milei will visit Washington this week to ask for US President Donald Trump’s help in securing funds from the International Monetary Fund (IMF) while negotiating an exemption from trade tariffs proposed by the Trump administration. The visit comes as Milei faces backlash at home over his “brief” promotion of the memecoin LIBRA, which investors and lawyers claim was a rug pull project. The Argentine leader hopes to meet with former President Trump as part of his push for a new IMF agreement to stabilize his country’s struggling economy. As reported by local news publication Buenos Aires Herald, talks with the IMF began in mid-December last year. The libertarian economist believes the funding will help implement his aggressive economic reforms. However, his diplomatic efforts are being overshadowed by controversy over LIBRA, a cryptocurrency he promoted on social media before quickly deleting the post. LIBRA causes controversy after market collapse Last Friday, Milei posted on X about LIBRA, a token he claimed was designed to “encourage economic growth by funding small businesses and startups.” Market data shows the post briefly fueled the token’s value to reach a two-month high of $0.00184. However, Milei deleted the post within hours, triggering a sharp collapse that led it to an all-time low of $0.0005237, a downtick of over 85%. Financial data site Dexscreener reported that Libra holders lost over $4.5 billion, with some investors like Barstool Sports founder Dave Portnoy calling it one of the biggest “rug pulls” in crypto history. Hayden Davis, the digital entrepreneur behind the memecoin and CEO of Kelsier Ventures, claimed he was an adviser to Milei and had been working with his team on “bigger tokenization projects in Argentina.” According to Bloomberg, Davis said Milei was actively involved in promoting the token but later went back on his endorsement. However, in an official government statement released on Saturday, the Argentine President’s Office denied any affiliation with Davis, stating that Milei was never involved in the token’s creation or promotion. The government went on to say the president’s post was a “routine announcement” and was removed to prevent speculation and limit further financial exposure. Legal complaints and political fallout By Sunday, Argentine lawyers had filed fraud complaints against Milei in criminal court, accusing him of facilitating an “illicit association to commit an indeterminate number of frauds.” Jonatan Baldiviezo, one of the plaintiffs, argued that Milei’s endorsement was “aware of his involvement” in what they see as fraudulent activity. The case is expected to move forward today, with judicial authorities set to assign a judge or refer it to a prosecutor for investigation. Former President Cristina Fernández de Kirchner, a longtime political opponent and heavy critic of Milei, alleged that “thousands who trusted him lost millions, while some made fortunes due to privileged information.” She and other opposition leaders have used the scandal to push for impeachment proceedings. However, with Argentina’s Congress requiring a two-thirds majority to remove a president, such an effort is highly unlikely to succeed. Political analysts have drawn comparisons between Milei’s presidency and Trump’s due to his confrontational political style and deregulation policies. Just like the US president, he has withdrawn Argentina from the World Health Organization while hinting at a potential exit from the Paris climate accord. He was elected in 2023 with over 55% of the votes, defeating Peronist Minister of Economy Sergio Massa, and has helped the South American country’s inflation rate drop to 2.2%, as of January 2025. Opinion polls indicate his approval rating has remained around 47%. Still, the controversy has renewed concerns about Milei’s unpredictable leadership style. Alejandro Catterberg, director of Buenos Aires-based consulting firm Poliarquia, warned that while Argentina is making economic progress, Milei’s head-strong decisions could bring down the public’s confidence in his government. “Macroeconomic balance needs to come along with emotional balance,” Catterberg said. “These types of things create a lot of unnecessary uncertainty.” Cryptopolitan Academy: Are You Making These Web3 Resume Mistakes? - Find Out Here

Tokenization should be based on purpose, not hype. At first, I never loved Sonic $S because it seemed like a farmer's den. But their purpose was clearly defined and without a hitch in operations. The same goes to AI Agents. Maybe HeyAnon and a few othes. Development keeps them real. I didn't talk about KAITO nor YAPS in any detail because I was worried about the purpose and post-TGE results even though I so much love their business development strategies and marketing. The adrenaline for launch and Airdrop needs to be neutralized and purposeful tokenization should take place or rather we go back to past projects who need real communities to fulfil their dreams. There are many projects but few real products that care about revenue and incentives than tokenization-airdrop launch. It might be about the meta but the hype fails most of the time. Gm