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🌙 Argentina’s President Faces Fraud Charges Over $LIBRA Token Promotion

President Milei's controversial social media activity triggers uproar and accusations of crypto market misconduct.

Author

Mike Gavela
February 17, 2025

Crypto Roundup - February 17

Amidst recent turmoil in the cryptocurrency space, Argentina's President Javier Milei faces backlash after the launch of the $LIBRA token, which plummeted by 85% following the removal of $87 million from liquidity pools by the development team. This event has triggered calls for impeachment by opposition parties. In a different but related financial policy move, the Argentine government has banned crypto transactions through banks, aligning with conditions from a recent $45 billion IMF agreement. The ban is seen as a measure to curb the financial instability associated with unregulated digital assets.

Top Stories

  • Argentina’s Economic Measures: Following a significant devaluation of the Argentine peso by 50%, President Milei has also introduced Bitcoin as a legal medium for private contracts, aiming to integrate more flexible financial operations in response to the country's economic challenges.

  • $LIBRA Token Controversy: The launch of the $LIBRA token, endorsed by President Milei, was met with significant market failure and legal concerns due to the high centralization of its supply and subsequent rapid devaluation.

  • Regulatory Actions on Crypto: The Argentine central bank has imposed a ban on crypto transactions through banks, a move compelled by the IMF to strengthen financial stability amidst ongoing economic reforms.

TOP STORIES

Argentina's president faces fraud charges over $LIBRA token promotion

President Milei faces crypto fraud charges for promoting $LIBRA token, leading to investor losses after the currency's collapse.

cryptobriefing.com/argentina-president-faces-crypto-fraud

Latest Trump nominees have ties to crypto 

Brian Quintenz and Jonathan Gould are among recent Cabinet nominees with ties to crypto.

blockworks.co/news/trump-cabinet-nominees-crypto-ties

Crypto User Burns $7 Million Ethereum to Warn of 'Mind Control' Through Brain Chips - Decrypt

An anonymous programmer sent millions in cryptocurrency to dead-end addresses while claiming military powers are using brain-computer interfaces to control citizens.

decrypt.co/306449/crypto-user-burns-7-million-ethereum-to-warn-of-mind-control-through-brain-chips

FUNDRAISING

Exclusive: Stablecoin company Plasma raises $24 million from Framework to launch its own blockchain

The company will use the money to launch its blockchain in the coming months.

fortune.com/crypto/2025/02/13/exclusive-stablecoin-company-plasma-raises-24-million-from-framework-to-launch-its-own-blockchain

OTHER HEADLINES

Coinbase Q4 takeaways, updated outlook

Even as BTC has remained range-bound in recent weeks below its peak, Coinbase’s early 2025 numbers appear to be strong.

blockworks.co/news/coinbase-q4-earnings

WikiLeaks receives 711 ETH donation that warns of 'mind control chips'

A mystery programmer who also burned a further 600 ETH claims that bosses from a Chinese hedge fund “used brain-computer weapons”

protos.com/wikileaks-receives-711-eth-donation-that-warns-of-mind-control-chips

Two Estonians Plead Guilty to Running $577M Crypto Ponzi Scheme - "The Defiant"

The pair admitted to defrauding hundreds of thousands of victims through a fraudulent investment platform.

thedefiant.io/news/regulation/two-estonians-plead-guilty-to-running-usd577m-crypto-ponzi-scheme

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