An Argentine judge has been assigned to investigate allegations of fraud against President Javier Milei following his promotion of the $LIBRA cryptocurrency, which experienced a rapid and dramatic decline in value shortly after its launch. Judge María Servini, of Federal Court No. 1 in Buenos Aires, will oversee the case, which centers on Milei’s brief endorsement of the coin. On Friday, Milei used his social media platform, X, to announce the launch of $LIBRA, describing it as a project aimed at boosting economic growth by funding small businesses and startups. The coin briefly surged to a market capitalization of $4 billion, but its value plummeted soon after, causing losses for many investors. Milei quickly deleted the post as the coin’s value continued to fall, sparking accusations that the launch could have been a scam, known as a “rug pull,” where investors are lured in only for the value to be artificially inflated before a sudden collapse.