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Argentina’s opposition threatens impeachment trial after Milei touts crypto coin

A judge in Argentina is investigating fraud allegations against President Javier Milei for promoting the $LIBRA cryptocurrency, which lost value shortly after its launch.
Milei's office stated that he was not involved in the cryptocurrency's development and removed his support to limit negative exposure following public backlash.
Lawyer Jonatan Baldiviezo claimed that Milei's actions were part of an illicit association to commit fraud related to the cryptocurrency's launch.
Milei distanced himself from the scandal, emphasizing that he acted in good faith and was unaware of the project details.

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Common Dreams

Trump Corruption Has Sizable Imitators as Argentine President Milei Helps Launch, then Abandons Meme Coin

On Sunday, multiple criminal charges were filed by lawyers against President Javier Milei of Argentina for promoting the meme coin $LIBRA. The value of the meme coin, launched on February 14, peaked at almost $5 before falling by more than 90 percent within just a few hours, erasing $4.4 billion in market capitalization.There were also moves in the Argentine congress to start impeachment proceedings.Milei had promoted the meme coin on social med…

16 days ago·United States

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Wired

Memecoin Scandal Threatens Argentine President Javier Milei - WorldNL Magazine

Argentinian president Javier Milei is facing calls for impeachment and a possible criminal investigation for his role in the rise and fast collapse of a memecoin.

16 days ago·United States

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France24

Argentina's Milei denies role in cryptocurrency scandal as government launches probe

Argentina's President Javier Milei is defending himself against accusations that he promoted a cryptocurrency that crashed, leaving investors with losses worth billions of dollars. The libertarian firebrand had initially posted a message on social media showcasing the launch of a new token on Friday night, saying it would stimulate economic growth. Also in this edition: our reporters in Germany meet the business owners angry at the ruling coalit…

16 days ago·France

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The Journal

Argentine President Javier Milei called 'crypto-scammer' for promoting currency before crash

On Monday, Milei said he had “nothing to hide” from an investigation.

16 days ago·Ireland

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Daily Express

Argentina on brink of political collapse as Javier Milei faces impeachment calls

The President has been accused by some people of carrying out a "rug pull" - a ploy to attract buyers to drive up the value of a coin, before a quick sell off to pocket the cash.

16 days ago·United Kingdom

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Daily Post Nigeria

Argentina president faces impeachment calls over crypto scandal

Argentine President Javier Milei is facing mounting calls for impeachment and legal action following his controversial promotion of a cryptocurrency that led to significant financial losses for investors. Milei took to X, formerly Twitter, on Friday to endorse the $LIBRA coin, describing it as a tool to support small businesses and start-ups. His endorsement sent the coin’s value soaring, but after he deleted the post hours later, its price plum…

16 days ago·Nigeria

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