Argentine President Javier Milei Faces Accusations Over Cryptocurrency Collapse

Milei denies promoting $Libra despite encouraging investments that led to $4 billion in losses for over 40,000 people.

Javier Milei, Argentina's president, is under scrutiny after promoting $Libra, a cryptocurrency that lost nearly all its value within hours of its launch.
Critics, including opposition leaders, accuse Milei of facilitating a 'rug pull' scheme that benefited a few at the expense of thousands of investors.
Milei denies wrongdoing, claiming he acted in good faith and merely shared information about the cryptocurrency to support small businesses.
The collapse of $Libra resulted in over $4 billion in losses, with nine individuals reportedly profiting $87 million from the scheme.
Calls for investigations and potential impeachment have emerged, though political analysts suggest removal from office is unlikely given parliamentary dynamics.