Javier Milei promised to bury Argentina’s "political elite," dollarize the economy, and end inflation. But in just two months, he achieved something even more shocking: becoming the poster boy for a $126 million crypto scam that left 44,000 people—from his most loyal followers to traders in Singapore—with empty wallets. All it took was a tweet and a meme coin named $LIBRA, which collapsed faster than the Argentine peso.
On February 14, Milei posted: "The Liberal Argentina grows! $LIBRA will fund entrepreneurship." The message, draped in libertarian flags and the hashtag #VivaLaLibertadCarajo, sparked the token’s rise from $0.000001 to $5 in minutes. Global investors, seduced by Milei’s "anti-system messiah" image, rushed to buy. Then, hours later, the creators executed a rug pull: they withdrew $90 million in liquidity, crashing $LIBRA to $0.00001. The result: massive losses, social media outrage, and memes comparing Milei to Bernie Madoff.
As chaos erupted, Milei deleted the tweet and deployed his go-to excuse: "I wasn’t fully briefed on the details." A president promotes a crypto without reading its whitepaper? Sure, like Elon Musk endorsing an electric car without checking for wheels. But the truth is darker: Milei has a history. In 2021, he backed CoinX, a pyramid scheme, and admitted to charging for his "opinions." Now, his $LIBRA partners—like Julian Peh, linked to fraudulent NFT projects—confessed there was a "financial agreement" with the president. His sister Karina Milei as a facilitator? Another awkward detail.
While libertarians mourn their lost savings (some up to $50,000), the U.S. government isn’t amused about its citizens being scammed. The FBI and OFAC are investigating the case and could sanction Argentina if money laundering is proven. Picture Milei’s speech: "This is an attack by international socialism!" Meanwhile, in Buenos Aires, even his former supporters call him "traitor."
The ultimate irony? The man who vowed to "destroy corrupt politicians" ended up mimicking their playbook—but with less finesse. Meme coins like $LIBRA are pure gambling: no utility, regulation, or ethics. In his anti-state obsession, Milei forgot that deregulation also invites fraudsters. And so, the "libertarian savior" plunged Argentina into its biggest crypto scandal.
Now, as the U.S. prepares lawsuits and victims demand justice, Milei keeps preaching dollarization. With what dollars? The only ones circulating are those stolen by $LIBRA’s creators. One lesson is clear: if a politician promotes crypto, run. And if that politician is Milei, run faster.
Does Milei deserve a Nobel Prize in Economics or a jail cell? Is $LIBRA the next Dogecoin or just a bad joke? Comment and share… if you still trust crypto after this.