Argentine President Javier Milei is under fire after promoting a cryptocurrency that led to big financial losses for investors. Many political leaders and lawyers are now calling for his impeachment and legal action against him.
On Friday, Milei posted on X (formerly Twitter) about a cryptocurrency called $LIBRA. He claimed it would help small businesses and start-ups. After his endorsement, the coin’s value quickly went up.
However, just a few hours later, Milei deleted his post. This caused the coin’s price to crash, and many investors lost their money.
Now, opposition leaders and critics are accusing Milei of misleading the public. Some say he was involved in a “rug pull”—a scam where people promote a cryptocurrency, raise its value, and then disappear, leaving investors with huge losses.
The scandal has sparked strong reactions. Some opposition members have announced plans to impeach Milei, while lawyers have filed fraud complaints in Argentina’s criminal court.
To address the issue, Argentina’s Anti-Corruption Office is investigating whether any laws were broken, including Milei’s possible involvement in the scheme.
Milei’s team has defended him, saying that he removed the post to prevent “speculation” and that he was not involved in creating the cryptocurrency.
The situation has drawn criticism from many political figures.
- Former President Cristina Fernández de Kirchner called Milei a “crypto scammer” in a viral post that has been viewed over 6.4 million times.
- Argentina’s main opposition coalition called the scandal “unprecedented” and said they would file an impeachment request.
- Esteban Paulón, a Socialist Party leader, also demanded impeachment proceedings, adding more pressure on Milei’s government.
Milei is now facing major political and legal challenges. The coming weeks will determine whether he can survive this crisis or face serious consequences. With investigations underway and growing calls for his impeachment, his presidency is at risk.
Stay tuned for updates as this story unfolds.
