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Le Monde
Le Monde
20 Feb 2025


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Who is responsible for this debacle? Since the launch of libra, the cryptocurrency briefly promoted by Argentine's president, Javier Milei, the question has been on everyone's lips. Its collapse, in the space of a few hours on the night of Friday, February 14, has triggered a scandal and an investigation in the country, even though the president now denies responsibility and blames the crash on "private individuals and [companies]."

These "private" interests are now at the center of attention and of the anger of thousands of libra buyers, who, according to some analysts, have lost nearly $300 million in the deal. Buoyed up by the open support of the current president, many invested in the cryptocurrency when its value was at its highest – nearly four dollars a token – just before it plummeted to a few cents, dragged down by the deletion of Milei's initial message and growing suspicions surrounding libra's launch.

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