Argentina's President Javier Miel has denied promoting the recently launched cryptocurrency, which collapsed moments after he mentioned it in a social media post on Friday. "BBC" reports.
The cryptocurrency “$Libra” quickly rose in value before falling, causing huge losses to most people who invested in it.
A judge will determine whether the president should face fraud charges related to the incident.
On Monday, President Milei said he had acted "in good faith" and dismissed investors' complaints, comparing their actions to people gambling.
"If you go to a casino and lose money, what's there to complain about when you know the risks?" Miley asked.
Miley spoke about the incident in an interview with Argentine television channel "Todo Noticias" on Monday, following a weekend during which he had remained remarkably quiet on social media.
He insisted that his post on the "X" platform, which contained a link to a site selling "$Libra", did not constitute an endorsement of this cryptocurrency.
"I didn't promote it, I just distributed it," he said.
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Milen's post, which she deleted after just a few hours, received heavy criticism not only from political rivals in Argentina, but also from those who had invested in cryptocurrencies.
Some have argued that “$Libra” was a fraud scheme, where promoters push buyers to buy, then stop trading activity and take the money collected from sales.
Milley's office has insisted that he was in no way involved in the development of "$Libra" and announced that the Anti-Corruption Office would determine whether the president had committed any wrongdoing.
