Key dealers
- President Milei withdrew support for the wave after it lost 85% value.
- Previously, Milei Coinx marketed, alleged as a Ponzi system that affects investors.
Argentina President Javier Milei has withdrawn his support for the wave Meme -Token after initially approval It found that he had no connection to the project. Milei also admitted that he did not do his due diligence before tweeting support, but deleted his tweets when he became aware of the details.
Token, which was alleged to be part of Viva La Libertad project that supports Argentina’s economy, dropped 85% in value My report on the project group’s liquidation.
“A few hours ago I published a tweet, because I have so many other times and supported an assumed private company that I obviously have no connection,” Milei mentioned. “I was not aware of the details of the project and after becoming aware of that I decided not to continue spreading the word (that is why I deleted the tweet).”
Analysis shows that 82% of the token supply is concentrated between a small number of addresses, which suggests centralized control.
In addition to clarifying his attitude, Milei drove back against critics who tried to take advantage of the controversy.
“To the dirty rats from the political throw who want to take advantage of this situation to hurt, I want to say that they confirms every day how difficult politicians are, and they increase our conviction to kick them in the ass,” he said.
This is not Milei’s first controversy involving crypto projects. At the end of 2021, he promoted Coinx, an alleged crypto Ponzi schedule, on Instagram, claiming it could help Argentinians fight inflation, Protos in the past reported.
Coinx promised high profits through AI-driven automated trading and expert retailers, but investors reported that they did not receive the expected return. The National Securities Commission then ordered Coinx to cease operations.
Investors sued Milei and sought damages for losses estimated at between 30 million and 40 million pesos (about $ 300,000).
