Javier Milei's bribery scandal may have derailed Argentina's crypto investment

6 hours ago

Argentinian President Javier Milei faces his lowest approval ratings due to a scandal involving a $5m financial agreement linked to his endorsement of the $Libra crypto token.
Milei's promotion of $Libra in February 2025 led to the token's price spike and crash, wiping out $250m from 13,000 holders, contradicting his claims of no connection to its organizers.
The scandal, fueled by evidence from crypto lobbyist Mauricio Novelli's phone showing payments and calls to Milei, has damaged crypto's reputation in Argentina and slowed regulatory integration.
Crypto advocates, via groups like Crecimiento, saw Devconnect 2025 in Buenos Aires as a chance to rehabilitate crypto's image by showcasing its positive aspects and encouraging regulatory reforms.
Despite the scandal, Argentina's crypto sector has seen milestones, including regulatory sandboxes and recognition of cryptocurrencies like ether for investment qualifications, though progress remains uncertain.

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