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Milei promoted $ Libra, then eliminated his support after accusations of fraud and fall of its value.
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Investors withdrew USD 90m after the boom of $ Libra, but Kip Network denied that it was a scam.
The controversy around Token $ Libra, promoted by the president of Argentina Javier Milei this Friday, February 14, remains. Although, after 3 hours of announced the launch of the Token, a profit taking of USD 87 million was made for alleged involved in the Living Freedom project, the CEO of one of the incumbent companies defends that it is not about A scam.
«Not a single sun will be used outside the purpose of executing the Living La Libertad project. Everything will be counted transparently, ”said Julian Peh, CEO of Kip Protocol, after the accusations that the Token $ Libra, promoted by Javier Milei yesterday, had thrown out of the carpet (rug-pull) Investor money.
Despite the controversy, the company has underlined its commitment to transparency and compliance with current financial regulations, ensuring that it is a «serious project.» As can be seen in his X message, Peh has committed to dissipate doubts and to guarantee the confidence of the general public. However, a large part of the members of the crypto community remains skeptical.
Recall that, given criticism, Kip Network said that Milei was not involved in the development of the project and that it was a completely private initiative. The Argentine president, on the other hand, eliminated the promotional publication and clarified that he had no links with the cryptocurrency, indicating that he was not aware of the details of the project and that, once informed, he decided to stop spreading it.
What does the crypto community say?
Following the incident, several leading characters within the crypto world have presented their opinions about the possible cryptophaf. Among them, businessman Justin Sun, known for being the founder of Tron. Sun said that he respected President Milei, but that he considered that the president had to assume his responsibility and that the necessary legal measures had to be taken to return the money to the affected people.
On the other hand, Changpeng Zhao, co -founder of Binance, said it was necessary to be careful when supporting tokens, ensuring that this could be «a substantial opportunity for Argentina if it had managed well.» Also, the Chinese businessman invited «conducting a lot of research» before investing money in new tokens.
Economist Alex Krüger, on the contrary, was much more incisive and called to stop normalizing the “pump and dumps” in the cryptocurrency sector (remember that a “pump and dumps” is a method to artificially inflate the value of a token). In addition, he mentioned how a group of people with privileged information can benefit from this type of event. He also called on the administration of Milei to reveal the identities of all involved.
Another prominent character that soon express his dissatisfaction was Saifeanan Ammous, a recognized economist and defender of Bitcoin, who said that the alleged incident had even caused bewilderment within the defenders of the Altcoins (in this case, Shitcoins).
Max Keiser, on the other hand, reminded his followers that he had predicted that Milei’s illiteracy about Bitcoin’s functioning was going to bring negative consequences for the sector.
Words of the opposition and legal authorities
As expected, the opponents of the Government of Milei did not take their complaints either. President Cristina Kirchner said that «something similar had never been seen in history» and that Milei had undoubtedly been the direct guilty of a digital scam. Likewise, Carlos Maslatón, Argentine lawyer and enthusiastic Bitcoiner, mentioned in his X account that Milei had «crossed all moral limits» and that his actions required a political trial.
Finally, the law firm Burwick Law, specialized in litigation of digital assets and cryptocurrencies, expressed their support for people affected by $ LIBRA, offering their services to inform about what their legal rights are in these cases:
