Lawmakers in Argentina are taking motion to research a cryptocurrency scandal involving the nation’s president, Javier Milei.
On February 14th, the value of the newly launched LIBRA memecoin surged after Milei posted in regards to the venture on his social media accounts.
Inside hours, the token crashed, inflicting over 75,000 retail traders an estimated $280 million in losses. Milei eliminated his posts 5 hours after making them.
The incident prompted allegations of a rug pull rip-off, which occurs when backers hype and inflate the value of a crypto asset after which instantly abandon the venture after taking the traders’ funds.
The Chamber of Deputies, the decrease home of the Argentine Nationwide Congress, is now pushing ahead with the investigation of the scandal following the approval of three draft resolutions associated to LIBRA.
The primary decision to create an investigative fee was accredited with 128 votes in favor, 93 in opposition to and 7 abstentions.
The second, which seeks to query government department officers, together with Chief of Workers Guillermo Francos, Minister of Economic system Luis Caputo, Minister of Justice Mariano Cúneo Libarona and head of the Nationwide Securities Fee (CNV) Roberto Silva, obtained 131 affirmative votes and 96 adverse votes.
The third decision to request stories from the nationwide authorities on numerous points related to the Libra cryptocurrency was accredited with 135 votes in favor, 84 in opposition to and 7 abstentions.
Comply with us on X, Facebook and Telegram
Do not Miss a Beat – Subscribe to get e-mail alerts delivered on to your inbox
Verify Price Action
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Every day Hodl usually are not funding recommendation. Traders ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your personal danger, and any losses it’s possible you’ll incur are your accountability. The Every day Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Every day Hodl an funding advisor. Please notice that The Every day Hodl participates in online marketing.
Generated Picture: Midjourney
