In a jaw-dropping turn of events, Argentina is reeling after President Javier Mileiās endorsement of the $LIBRE meme coin triggered a massive pump-and-dump that wiped out millions of dollars from unsuspecting investors. What seemed like a harmless post quickly turned into a full-blown financial disaster.
Late Friday night, Milei took to X (formerly Twitter), backing the $LIBRE coin. The reaction was immediateāprices soared from $0.006 to nearly $5, drawing thousands of eager buyers. But just six hours later, the bubble burst, crashing the price to $0.84 and leaving investors fuming. The post was deleted, but the damage was already done.
Now, the political storm is brewing. Opposition leaders are demanding Mileiās impeachment, calling the scandal an embarrassment to Argentina on the world stage. Former President Cristina FernĆ”ndez de Kirchner slammed the incident, accusing it of being a financial trap that drained investors' funds.
Whoās to blame? KIP Protocol, the company behind $LIBRE, insists that there was no government involvement, but the real question remainsādid insiders cash out before the collapse? Lawmakers are pushing for answers, and the investigation into the scandal has already begun.
Milei, however, is distancing himself from the fiasco, claiming he was unaware of the projectās details. Meanwhile, the Anti-Corruption Office has launched an official probe, and a special Investigation Task Unit has been set up to uncover the truth.
As the pressure mounts and Argentinaās Congress erupts in outrage, the fate of Mileiās presidency hangs in the balance. Will he weather this storm, or has this scandal sealed his political future? Stay tuned for the next twist in this wild crypto-political drama! š„
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