**Milei Defends Against Crypto Fraud Allegations Following $Libra Collapse**

**In the wake of the sudden collapse of the $Libra cryptocurrency post his endorsement, President Milei asserts his innocence amid potential legal repercussions and political fallout.**

Argentine President Javier Milei finds himself amidst a brewing scandal after denying allegations of cryptocurrency fraud linked to the newly launched $Libra, which saw a rapid rise and subsequent crash in value shortly after his social media endorsement. The cryptocurrency inflamed investor enthusiasm but quickly nosedived, leading many to suffer severe financial losses.

Responding to the backlash, Milei maintains that he acted "in good faith," equating the investment risk to gambling, stating, "If you go to a casino and lose money, what's there to complain about when you knew the risks?" During an interview with Todo Noticias, he clarified, "I didn't promote it, I merely shared it," asserting that his post, which he later deleted, was not an official endorsement.

Criticism of Milei's involvement has surged, with opposition figures suggesting that the launch of $Libra bore hallmarks of a "rug pull," a scheme where creators attract investments only to vanish with the funds. The presidential office insists Milei had no role in the cryptocurrency’s development, tasking the Anti-Corruption Office to investigate any potential misconduct.

Despite his assertions, opposition leaders threaten impeachment proceedings, although analysts believe they may lack sufficient votes to pursue a trial. This controversy risks distracting Milei from his aggressive reform agenda as his political landscape intensifies. A federal judge will now assess whether the fraud allegations from multiple plaintiffs hold enough weight for legal action. Throughout this turmoil, Milei expressed confidence, declaring "nothing to hide," and reminded investors of their voluntary participation in the $Libra venture, likening it to "playing Russian roulette."