TechFlow news, February 17 — According to The Block, Argentine President Javier Milei is being accused of fraud over his association with the $LIBRA token project. Milei previously promoted the project, but the token's value has since plunged 95% from its peak. Plaintiffs, including Argentina's former central bank president Claudio Lozano, allege that Milei played a key role in the initiative.
Although Milei denies having prior knowledge of the project's operations and has announced an investigation by the anti-corruption office, opposition parties have already called for impeachment proceedings. Hayden Davis, a project advisor, stated that Milei's withdrawal of support contributed to the collapse of investor confidence. However, on-chain data shows that project insiders had already cashed out $107 million via transaction fees and liquidity funds before Milei withdrew his endorsement.
