Charles Hoskinson on LIBRA Token Scandal: Milei Misled?
Founder of Cardano Charles Hoskinson The dispute surrounding Libra tokens has been resolved. He believes that Argentine President Javier Milei is not directly involved.
His remarks strongly suggest that better decisions and due diligence can stop the controversy.
Charles Hoskinson speaks on Libra token scandal
According to Hoskinson, Miley’s consultants may consider the project as a good idea and may compare it to other projects Political tokens like Trump Official (Trump). But these insiders have meticulously planned a plan to make a profit on the top of the mountain while leaving Milei to deal with the consequences.
Last week, President Javier Milei’s Promotions that trigger Libra tokens Its value surged. The market value reached US$4.5 billion. However, soon after, its value dropped by 95%, Causing significant investors’ losses.
The concerns arose from the $107 million in insider withdrawal prompted Miley to withdraw his approval. Amid growing concerns, Hoskinson commented on the situation in his latest YouTube video.
Hoskinson explain.
Hoskinson believes that while Milei may not have realized the full details of the plan, the controversy still hurts his reputation.
However, this has surpassed Miley’s personal reputation. Draw a legal review. The Anti-Corruption Office (OA) in Argentina has now begun an investigation into President Mili and his cabinet.
It is worth noting that Milei requested an investigation and formed an investigation task force to examine the KIP protocol and related entities. also, according to According to Kobeissi letters, international law firms are conducting a large-scale lawsuit against President Miley.
How the Libra scandal affects Argentina’s blockchain future
Meanwhile, Hoskinson added that there is a possibility that Argentina will convert through a blockchain-based solution. He added some examples, e.g. vote Systems, government budget tracking, supply chain management and Digital Identity System.
Nevertheless, the Libra token dispute has seriously damaged Blockchain’s reputation in Argentinacreate a toxic feeling to the technology.
“It’s frustrating for me that all Miley has to do is get the blockchain industry to work with him and the whole country can revolutionize and change,” he said.
As a result, political opponents may use scandals to stop them Public sector adopts cryptocurrencies in the futurelink blockchain to fraud rather than innovation.
Hoskinson said his team was concerned about working with the Milli administration even before the Libra scandal due to political unrest and deregulation.
He compared Argentina’s decision to cancel its tax agency (AFIP) with the U.S. decision to shut down the IRS, highlighting volatility Lack of institutional stability.
Hoskinson believes government agencies are at risk of disappearing overnight Long-term blockchain partnership With the Argentine government, the government is highly uncertain and difficult to establish.
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