Amid the $LIBRA Scandal, Trump Shares a Quote from Milei
U.S. President Donald Trump publicly backed Javier Milei amid the $LIBRA scandal with a post on Truth Social.
He shared an image of the Argentine leader alongside one of Milei’s frequently used phrases: “If printing money ended poverty, printing diplomas would end stupidity.”
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The controversy surrounding the $LIBRA cryptocurrency erupted last Friday around 7 p.m., when the libertarian leader announced on social media: “Liberal Argentina is growing! This private project aims to boost Argentina’s economy by funding small businesses and startups. The world wants to invest in Argentina.”
However, the alleged digital mega-scam quickly sparked widespread backlash, drawing the attention of U.S. authorities. The Department of Justice and the Federal Bureau of Investigation (FBI) received a criminal complaint against those behind the fraud, which reportedly generated between $80 million and $100 million in illicit gains.
The U.S. Securities and Exchange Commission (SEC) was also alerted to suspicious transactions recorded since Friday night. Against this backdrop, Trump’s post marked his first explicit and public response to the scandal rocking the Milei administration.
What Is the $LIBRA Scandal?
Last Friday, President Javier Milei promoted a cryptocurrency called $LIBRA on his X account as part of the “Viva la Libertad Project.” The initiative was marketed as a crypto investment project aimed at funding small businesses.
Shortly after the announcement, $LIBRA’s value skyrocketed—only to crash dramatically soon after. Following the collapse, Milei deleted his post and later stated that he had withdrawn his support for the project after further investigation and analysis.
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