[Argentine President Javier Milei faces impeachment for supporting LIBRA tokens]
Argentine President Javier Milei is facing impeachment threats for supporting a cryptocurrency called LIBRA, which was supposedly designed to support small businesses but actually collapsed within hours and lost billions of dollars in value.
In a now-deleted X post published late Friday, Mile promoted LIBRA as a privately run project aimed at raising funds for small and medium-sized Argentine companies, adding that he would not personally benefit from the project.
The token’s market value quickly surged to about $4.5 billion amid confusion over the legitimacy of Millay’s tweets, amid speculation that his account may have been hacked or that scammers had defrauded him.
Five hours later, Miley deleted the post, saying he was "unaware of the details of the project" and now that he has learned of the news, he has chosen not to continue promoting it.
On February 16, some Argentine lawyers filed fraud charges against President Javier Milei in the Criminal Court on Sunday, accusing him of promoting cryptocurrencies on social media. One of the plaintiffs, lawyer Jonatan Baldiviezo, said that they saw an illegal organization in this incident that committed "an indefinite number of frauds." He said: "In this illegal organization, fraud crimes occurred, and the president's actions were crucial." The criminal justice department is expected to assign a judge to hear the case on Monday or submit it to the prosecutor for further investigation. Javier Milei's political career has mainly gone through the following stages: - **Early accumulation** - **Before 2018**: Milei is an economist by origin. He has served as a senior economist at HSBC and has also served as chief economist in several countries and government public institutions. Since 2012, Milei has become the head of the economic research department of the Argentine national think tank Fundación Acordar, and also serves as an advisor and member of the B20 Summit under the G20 Summit, the International Chamber of Commerce (ICC) Economic Policy Group and the World Economic Forum. -
**First political experience** -
**2018**: He began to promote his "liberal liberal" rhetoric and established the "Liberal Party" through social networks with a group of young Argentines who admired his economic ideas.
- **2019**: Joined the Liberal Party.
- **2021**: Found the Liberal Party and successfully run for the National Assembly and become a representative of the city of Buenos Aires. - **Run for President** -
**2022**: In April, Milley announced his candidacy for the Argentine presidency as the sole candidate of the Freedom and Progress Party. -
**2023**: In August, Millet became the candidate with the most votes in the Argentine presidential primary election. On November 19, in the second round of presidential elections, Millet was elected as the new president of Argentina with 55.95% of the votes. -
**Governing phase** - **2023**: On December 10, Mille was sworn in at the Congress Building in Buenos Aires, the capital, for a four-year term. After taking office, he implemented a series of reform measures, such as cutting the cabinet from 18 ministries to 9 and announcing the launch of more than 300 reforms at one time. - **2024**: Faced with many challenges and controversies, including facing a nationwide strike 46 days after taking office; being accused of being addicted to social platforms, conveying political intentions through social platforms, and firing officials; adjusting speech time caused controversy; new book was suspected of plagiarism; it was revealed that he used state subsidies to buy houses and cars; and the Venezuelan Procuratorate announced an investigation. In addition, Argentina's poverty rate soared to nearly 53% in the first half of 2024, the worst poverty rate in 20 years, which dealt a blow to its economic measures. What do you think? Tell us what you think!