Mamei under pressure: Enlightenment required by crypto collapse!

Mamei under pressure: Enlightenment required by crypto collapse!

Argentinien - The Argentine President Javier Milei is involved in a scandal after advertising a cryptocurrency that was apparently a fraudulent scheme. According to reports from krone.at , Milei became active in the online platform X in order to prices the cryptocurrency $ libra, which is supposed to serve to boost the Argentine economy in small companies. A short time after his advertising, however, the value of the currency crashed dramatically after investors noticed that it was a so -called "RUG Pull" - a common method in which large shareholders sell their shares as soon as the price has increased and the currency collapses.

expert Javier Smaldone stated that this process only took two hours at $ Libra and earned a profit of $ 107 million for the initiators. To investigate the incident, the Argentine anti -corruption authority was involved in checking possible misconduct by government members, including the President himself. Milei has contested all the connections to the project and tried to distance itself from the allegations, but the opposition's criticism is loud. Former President Christina Kirchner titled him as a "crypto scam", while Senator Martín Lousteau pointed to a second incident of this kind.

background to cryptocurrencies

The $ Libra cryptocurrency is to be based on blockchain technology, which enables transactions to store securely and transparently. Blockchain functions as a digital general book that offers access to counterfeiting -safe data all over the world without the need for central authority. The functionality of this technology is that each block contains data in the chain that can no longer be changed afterwards. According to coinkurier.de , cryptocurrencies are characterized by quick, cost-effective and anonymous transactions, which, however, are characterized by high volatility and regulatory uncertainties, which are what potential investors have certain risk imposed.