"Milei Welcomes Buterin: Argentina to Host Ethereum Devconnect Amidst LIBRA Storm"

Argentinian President Javier Milei has extended an invitation to Ethereum co-founder Vitalik Buterin to host the next edition of Devconnect in Argentina, amidst the ongoing controversy surrounding the LIBRA token. Milei expressed his enthusiasm for the event, stating that it would be an "honor" for Argentina to host the gathering of independent events that foster the growth of the Ethereum ecosystem.

Buterin, in response to Milei's praise of Argentina's Ethereum community, acknowledged the energy and determination of builders based in the country. He suggested that the event should be held in Argentina, citing it as a "great opportunity" to showcase good examples of crypto usage to the Argentinian community. Milei promptly accepted the invitation via social media, expressing his agreement with Buterin's sentiment.

The interactions between the Argentinian President and the Ethereum co-founder come at a time when Argentina's crypto adoption is on the rise. According to Chainalysis' "2024 Geography of Crypto Report," Argentina has the 15th-largest crypto adoption index and leads Latin America in crypto value received, with an estimated $91.1 billion between 2023 and 2024.

The invitation to host Devconnect in Argentina also coincides with the significant controversy surrounding the LIBRA token. Milei had previously endorsed the memecoin, stating that it was a way to fund Argentinian ventures. However, the token's valuation crashed by 95% over the weekend, with a report by Nansen estimating that 86% of traders lost $251 million, and 70% of wallets trading the token over the weekend endured losses.

Hayden Davis, a key figure behind LIBRA, claimed that Milei had no financial stake in the token and that he had influenced the Argentinian President by paying Milei's sister. Milei, however, maintained that he did not intend to promote the token and only shared it on social media as a gesture of good faith toward the industry.