Argentine President Faces Backlash Over Promotion of Failed Cryptocurrency
Javier Milei is under scrutiny after endorsing $LIBRA, a cryptocurrency that collapsed hours later, sparking allegations of fraud and calls for an investigation.
- President Javier Milei promoted the cryptocurrency $LIBRA, claiming it would boost Argentina's economy and support small businesses, before it rapidly lost value.
- Critics allege the $LIBRA project was a 'rug pull' scheme, with early investors profiting while others lost millions as the coin's value plummeted.
- The Argentine presidency announced an urgent investigation into the $LIBRA launch and potential misconduct, including any involvement by Milei or his administration.
- Opposition leaders, including former president Cristina Kirchner, have accused Milei of enabling a digital scam and called for his impeachment or further parliamentary inquiries.
- Milei denied prior knowledge of the project's details and deleted his promotional post, but the incident has raised questions about his judgment and accountability.
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