Argentina President Javier Milei is facing criticism and calls for impeachment after promoting a new cryptocurrency called $LIBRA on his social media account. The coin’s price initially rose but then plummeted by 70% as early purchasers sold off their holdings, leading to significant losses for later traders. The situation has raised accusations of a “rug pull” scam, similar to a past incident involving President Donald Trump and the TRUMP coin. Milei has denied any involvement in the downfall of LIBRA, but has acknowledged that he likely made a mistake in promoting it.
The president has invoked Argentina’s anti-corruption investigator to look into the matter, and while impeachment may be unlikely due to lack of support, opposition parties are seizing on the incident as a scandal. Milei, known for his bromance with Elon Musk and efforts to tackle inflation, has faced criticism for his involvement in the cryptocurrency scheme that has negatively impacted investors.
The situation highlights the risks of investing in meme coins and the importance of transparency and trust in the cryptocurrency market. Milei has admitted to needing better screening mechanisms to prevent similar incidents in the future. Despite the backlash, Milei remains committed to his goal of addressing Argentina’s economic challenges and promoting growth.
Note: The image is for illustrative purposes only and is not the original image associated with the presented article. Due to copyright reasons, we are unable to use the original images. However, you can still enjoy the accurate and up-to-date content and information provided.
