Milei denies crypto fraud allegations

BUENOS AIRES — Argentine President Javier Milei on Monday denied promoting a cryptocurrency that crashed, costing investors billions of dollars and prompting a flood of complaints, as prosecutors prepared an investigation into the scandal.

A judge was nominated on Monday to investigate allegations of fraud against Milei, who distanced himself from the scandal and said he acted in good faith.

Milei and his office denied involvement with creators of the $LIBRA cryptocurrency, saying he initially drew attention to it on Friday as an entrepreneurial project that might benefit Argentina, but learned more about it later and then withdrew his support.