Argentina’s eccentric Bitcoiner presidential candidate is being sued for allegedly promoting a crypto ponzi scheme.
Javier Milei, a top contender to be the next president of Argentina, last year uploaded an Instagram post to his 1.3 million followers promoting CoinX, a crypto investment platform that promised huge returns to users.
The platform, which closed in June, had a huge social media following and claimed to use AI, bots, and expert traders to automate trades for investors—and make them lots of money.
In December, Milei visited their Buenos Aires offices. “They are revolutionizing the way to invest to help Argentinians with inflation,” he wrote in the Instagram post. “You can now simulate your investment in pesos, dollars or cryptocurrencies and earn a profit.”
But CoinX closed up shop after the regulatory National Securities Commission (CNV) warned that the platform had no legal right to operate in the country and ordered it to stop operations. It also hadn’t paid back...
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