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tldr; A congressional report accuses Argentine President Javier Milei of involvement in the LIBRA crypto scandal, alleging he used his position to promote the token, which surged in value before crashing in a rug pull that caused millions in losses. Investigators found evidence of 16 meetings between Milei and LIBRA creators at the presidential residence. The report also links Milei to another token, KIP, and claims misuse of presidential influence. Over 100 criminal complaints have been filed, and a New York law firm is pursuing a class-action lawsuit against Milei. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
tldr; An Argentine congressional report accuses President Javier Milei of providing 'essential collaboration' for the failed $LIBRA cryptocurrency project, which led to significant financial losses for over 114,000 wallets. The report alleges Milei's promotion of the token facilitated its collapse and suggests misconduct in office. It also highlights similar patterns with other crypto projects like KIP Protocol, raising concerns about systematic evasion of institutional controls. Milei denies wrongdoing and faces ongoing investigations. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
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What exactly was the role of KIP in all this?
tldr; On-chain evidence and investigations have linked the LIBRA token to the MELANIA meme coin issuers, suggesting the same entity orchestrated both projects. The LIBRA token, endorsed by Argentine President Javier Milei, surged in value before crashing, similar to the MELANIA token. Blockchain analytics revealed interconnected wallet activities, indicating profits from one scheme funded the other. KIP Protocol and insider Hayden Mark Davis have conflicting accounts of their involvement, with Davis admitting to orchestrating both launches. The scandal has led to fraud charges against Milei. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
tldr; Argentine lawyers have filed fraud charges against President Javier Milei for promoting a cryptocurrency called $LIBRA on his social media. Milei's post, which was later deleted, led to a collapse in the currency's value, causing significant financial losses. The coin was linked to KIP Protocol and could be accessed via a website. The President's Office stated Milei was not involved in the cryptocurrency's development and removed the post to prevent speculation. The case is expected to be investigated further by the judiciary. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
tldr; Blockchain analysts have linked the LIBRA meme coin to other controversial cryptocurrency projects, including MELANIA. Investigations suggest LIBRA's market maker, allegedly based in Delhi, controlled multiple tokens involved in pump-and-dump schemes. These schemes led to rapid price increases followed by crashes, leaving investors with losses. The LIBRA token, briefly endorsed by Argentina's President Javier Milei, saw a surge and subsequent collapse, prompting accusations of market manipulation. KIP Protocol and Kelsier, linked to LIBRA, deny wrongdoing, while the controversy continues to unfold. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.