Javier Milei states that the investment platform CoinX was a genuine and not fraudulent business. People on social networks say they are still waiting for money the company owes them.
Argentine congressman Javier Milei recently defended the opinions he gave in December about the company CoinX. He said they offered investments with high returns in US dollars (between 5% and 8% monthly).
Milei pointed out that the people from CoinX asked for his professional opinion after seeing how the business worked. He said they invested in securities in US dollars (USD and paid much higher rates in pesos (ARS) than in the centralized market.
He added that this part of the business allowed them to invest in the crypto farms they had in the south. In addition, he highlighted that they mined cryptocurrencies, which allowed them to generate a plus fund to have more money.
That was not the business model they showed the public before receiving a termination resolution from the National Securities Commission. The team led by Juan Manuel Malaspina claimed to operate in stock and cryptocurrency markets with money from users.
Javier Milei said he left CoinX because the company did not make some changes, like not guaranteeing a certain percentage of returns. However, the Argentine congressman never removed his sponsored Instagram post or publicly retracted his support.
Javier Milei Considers that CoinXDid Not Scam Anyone
The congressman explained that CoinX did not close the business for scamming people, saying they were returning the money. He believes that the drop in the price of Bitcoin (BTC) and the immovable exchange rate led to their cessation.
People demanding responses on the CoinX Instagram account indicate that not everyone has received their initial investment back. A woman recently wrote that she has been waiting for over a month but has not received any answer.
CoinX has received e-mails requesting how many people have received their money back and how many have not. Until the time of publication of this article, the company did not provide answers.
Milei Surprises World Financial Experts with His Statements
The statements by the Argentine official did not go unnoticed by world finance connoisseurs. For example, Carlos Maslatón, who was in the campaign leading him to Congress, said he could not believe it.
The Argentine lawyer criticized Javier Milei for defending CoinX, referring to it as a Ponzi scheme. He added that the congressman should not have believed it was a real investment with a chance of winning.
Franco Amati, a co-founder of the NGO Bitcoin Argentina, expressed his surprise at Milei denying that CoinX was a scam. Besides, the bitcoiner also considers that this company promoted a Ponzi scheme.
Despite the above statements, it is necessary to clarify that there is no legal filing of individuals claiming harm by the company. Beyond the termination notice by the National Securities (CNV), no judicial resolution has determined that the actions by the company violated current laws.
By Alexander Salazar