Vitalik Buterin proposes Devconnect in Argentina amid LIBRA fallout

Ethereum co-founder Vitalik Buterin has proposed that the next Devconnect conference be held in Argentina following the fallout from the LIBRA coin debacle. Such a proposal was well-received by the President of Argentina, Javier Milei, who showed anticipation of the event.

Buterin has, in the past, considered Argentina to be one of the best examples of mainstream adoption of cryptocurrencies. He noted that due to the economic status of the country, blockchain and digital assets are not merely get-rich rituals. In response to the recent LIBRA controversy, Buterin remains optimistic about Argentina’s potential as the blockchain hub.

“The energy and determination to build on Argentina’s current momentum and use crypto and other new technologies to build a prosperous 21st-century society is real. The recent news should be taken not as a reason to give up, but rather as an example of why education is so important.” –  Buterin.

However, Buterin still sees hope for Argentina to contribute to the Ethereum ecosystem even after the LIBRA incident. He said that regional entrepreneurs have played their part in advancing the use of blockchain technology. The decision to host Devconnect in Argentina is an intention of nurturing the growth of the community even further.

Milei did not directly answer Buterin’s comments on LIBRA, but he responded nevertheless. He welcomed the idea of hosting the Devconnect, describing it as a privilege and opportunity for Argentina.

MUCHAS GRACIAS @VitalikButerin POR TUS PALABRAS SOBRE EL TALENTO ARGENTINO!!!

Sería un honor que Argentina sea sede de Devconnect. Coincido que sería una gran oportunidad para nuestro país.

VIVA LA LIBERTAD CARAJO…!!! https://t.co/INh1S8MpkQ

— Javier Milei (@JMilei) February 20, 2025

Milei faces scrutiny over LIBRA collapse

The LIBRA cryptocurrency, which Milei mentioned in a now-deleted social media post, skyrocketed and subsequently plunged. This led to huge losses to investors, leading to allegations of a ‘rug pull’. Milei later defended that he worked ‘in good faith’ and compared investors’ losses to the risks of gambling.

Speaking to Argentine news channel Todo Noticias, Milei clarified that he never promoted it, stating, “I didn’t promote it, I merely shared it.”. The presidential office has since said the Anti-Corruption Office will investigate the matter to determine whether the law was violated.

There have been increasing complaints of political influence in the emerging cryptocurrencies. Buterin recently also criticized political meme coins, describing them as rigs for unfair political influence. Although he has not stated anything about Milei being affiliated with LIBRA on such projects, his stance remains very clear.

Buterin’s stance on crypto ethics

During an AMA session recently conducted, Buterin raised some concerns regarding the ethics of the crypto space. He explained that he feels frustrated with the increasing popularity of blockchain gambling and said that he would quit if the community continues to support what he regards as a ‘moral reversal.’

He reaffirmed his commitment to the Ethereum community’s vision and called upon developers to work only on projects that have ethical and social relevance. However, Buterin also noted that the Ethereum Foundation might become more involved in dictating the responsible direction in which this ecosystem will go.

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