A newly released report from Argentina’s Congress has linked President Javier Milei to the collapse of the Libra cryptocurrency project. The investigation alleges that Milei’s promotion of Libra through his official X account played a significant role in driving widespread investor losses. Members of Milei’s political party, La Libertad Avanza, have blocked the report’s advancement during a Tuesday session. Despite this resistance, the final document was formally submitted and now moves to the broader legislature regardless of party affiliations. 114,410 wallets experienced net losses following the Libra collapse. 8 wallets linked to the project liquidated roughly $107 million just before Milei’s post went live. The report suggests that this promotion fueled the project’s increased trading activity, which in turn, led to severe market volatility. This investigation follows an ongoing criminal probe into both President Milei and Libra leadership, including entrepreneur Hayden Davis. A class-action lawsuit has also been filed by Burwick Law on behalf of those who suffered financial losses from the collapse. The report notes a pattern of similar failures in other digital-asset ventures where Milei endorsed ventures prior to their downfall. Examples include KIP Protocol and Vulcano, an NFT game linked to Mauricio Novelli, both linked to high-profile endorsements. Despite its findings, Congress cannot directly sanction President Milei but can request action from the National Congress for possible misconduct proceedings. This report serves as a reminder that investing in digital assets carries risks, and it’s crucial to thoroughly research before making any investment decisions.