In a stunning turn of events, Argentine President Javier Milei finds himself at the center of a crypto controversy that has rocked the nation. Calls for his impeachment are growing louder as accusations of fraud swirl around his recent promotion of a cryptocurrency on social media.
President Milei took to X, formerly known as Twitter, to tout the $LIBRA coin as a game-changer for small businesses and start-ups. His enthusiastic endorsement led to a surge in interest, prompting investors to flock to the digital currency. However, the situation took a dark turn when Milei abruptly deleted his post, triggering a sharp drop in $LIBRA’s value and leaving many investors reeling from substantial losses.
Opposition members of Congress wasted no time in seizing upon the scandal, vowing to initiate impeachment proceedings against Milei. Simultaneously, legal actions charging the president with fraud have been filed in Argentina’s criminal court, intensifying the mounting pressure on the embattled leader.
Accusations of a “rug pull” scheme have emerged, with online commentators alleging that Milei lured investors in with false promises only to vanish with their money. The link shared by the president to purchase $LIBRA coins bore a striking resemblance to a phrase frequently used in his speeches, adding fuel to the suspicions of foul play.
In response to the growing uproar, the presidential office defended Milei’s actions, attributing the removal of the post to concerns over potential speculation surrounding the cryptocurrency’s launch. Emphasizing that the president was not directly involved in the coin’s development, the government pledged to launch an investigation through the Anti-Corruption Office to uncover any misconduct, even if it implicates Milei himself.
Jonatan Baldiviezo, one of the individuals spearheading the legal action, condemned Milei’s conduct as a clear case of fraud, insisting that the president played a pivotal role in perpetrating the alleged deception. The gravity of the accusations has prompted Milei’s political foes to pounce on the opportunity to denounce him, with former President Cristina Fernández de Kirchner branding him a “crypto scammer” in a widely circulated social media post.
Amid the mounting scrutiny, Argentina’s main opposition coalition declared its intent to push for Milei’s impeachment, labeling the scandal as unprecedented and demanding accountability for the purported wrongdoing. Esteban Paulón of the opposition Socialist Party echoed these sentiments, announcing plans to formally request impeachment proceedings against the embattled president.
As the controversy continues to unfold, the Argentine public remains on edge, awaiting the outcome of the investigations that will determine the extent of Milei’s involvement in the alleged crypto scandal. The once-promising narrative of $LIBRA’s potential to empower small businesses and foster innovation has been overshadowed by the cloud of suspicion hanging over Milei’s handling of the cryptocurrency promotion.
Stay tuned for further updates as the story of President Milei’s entanglement in
