Argentine president defends his cryptocurrency tweet after crash, comparing losses to gambling
CNN
Argentine President Javier Milei has defended himself for promoting a cryptocurrency whose value collapsed within hours of its launch, likening those who invested in the token after his endorsement to gamblers at casinos.
Argentine President Javier Milei has defended himself for promoting a cryptocurrency whose value collapsed within hours of its launch, likening those who invested in the token after his endorsement to gamblers at casinos. “The reality is if you go to the casino and lose money, I mean, what is the claim if you knew that it had those characteristics?” he said during an interview with the TN news channel that aired on Monday night. Milei said he promoted the little-known crypto coin $LIBRA in a tweet on X last week because he believed it would encourage economic growth by funding small businesses. “I am spreading the word that this is to fund Argentines who do projects and who do not have access to financing,” he told TN. The price of the coin soared after the president’s endorsement then quickly collapsed, leading to losses for thousands of investors. Milei deleted his tweet hours after posting it, saying he had doubts about the matter.
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