LIBRA scandal spreads – was Milei’s sister bribed?

Libra Scandal Spreads: Was Milei’s Sister Bribed?

In Argentina, a scandal surrounding Javier Milei, a candidate for the office of president, continues to brew. It is alleged that Milei’s sister received $50,000 from a foundation that has links to cryptocurrencies and the Libra project.

Once again, the cryptocurrency world is in the headlines and not in a positive light. In Argentina, a scandal surrounding the right-wing libertarian presidential candidate Javier Milei is making waves. The focus is on the role of Milei’s sister Karina, who, according to media reports, received $50,000 from a foundation to support Milei’s campaign. This foundation is said to be connected to individuals involved in Facebook’s (Meta) Libra project, which failed.

El Economista and other Argentine media outlets have taken up the case and are raising suspicions that the $50,000 donation was meant to secure Milei’s favor toward the cryptocurrency industry should he be elected. Karina Milei is very influential in her brother’s campaign and plays a crucial role in strategic decisions.

Was the Libra Foundation Involved?

The case also raises questions about Libra, a once highly anticipated cryptocurrency project by Facebook. Originally announced in June 2019, Libra aimed to launch a stable digital currency and was supposed to start operations in 2020. Mark Zuckerberg envisioned Libra as a global currency of the future. However, financial regulators and governments worldwide expressed concerns about Libra. They feared for the stability of their national currencies and saw the possibility of Facebook evading regulations. As backlash mounted, Libra rebranded to Diem and eventually had to abandon its plans.

In the current scandal, allegations are being directed toward people who were part of the Libra Association and are said to be involved in the $50,000 payment. On social media, various conspiracy theories are already gaining traction, claiming that something larger and possibly illegal was behind Libra and is still affecting politics today.

Argentine Judiciary Investigates

Argentina has several agencies interested in the case. The country is generally regarded as open to cryptocurrencies, but this attitude could change if corruption involving the crypto scene leads to tarnished public perceptions. Javier Milei, in any case, denies any wrongdoing and distances himself from the accusations against his sister and his campaign. He emphasizes that he only learned about the donation afterward.

For now, it’s uncertain whether the investigations will lead to indictments. However, for the crypto industry, the case already represents another damaging event, given the recent past’s negative headlines. The Libra case reminds observers that the development and mass adoption of digital currencies can also expose the darker sides when money and politics intersect.