🚨 ARGENTINA'S $LIBRA MEME COIN SCANDAL 🚨

In February 2025, Argentina's political landscape was shaken by the $LIBRA meme coin scandal, which implicated President Javier Milei in a controversial cryptocurrency promotion that led to significant investor losses.

On February 14, President Milei publicly endorsed the $LIBRA token, promoting it as a private initiative aimed at boosting the economy by supporting small businesses. The endorsement caused the token's value to surge from a mere $0.0001 to over $5 within hours. However, the excitement was short-lived. The price crashed by more than 95% soon after, as early holders dumped their shares, sparking allegations of a "rug pull" scam.

Further investigations uncovered that a handful of wallets held a large portion of $LIBRA's total supply. These wallets cashed out massive profits—reportedly exceeding $100 million—while nearly 44,000 investors were left with combined losses of around $250 million.

The situation escalated as over 100 criminal complaints were filed against Milei, accusing him of fraud, market manipulation, and abuse of authority. His sister, Karina Milei, along with other close allies, was also implicated in the probe.

In response to mounting pressure, President Milei denied any financial connection to the project and claimed he acted in good faith. He also ordered an internal investigation through the national Anti-Corruption Office.

Despite these actions, the scandal severely damaged public trust in Milei's administration. Opinion polls reflected a sharp decline in his approval ratings, and opposition parties began calling for impeachment proceedings.

The $LIBRA debacle stands as a stark warning about the dangers of unregulated digital assets, particularly when they are associated with influential public figures. It highlights the need for greater transparency and accountability in the intersection of politics and cryptocurrency.