#阿根廷总统MEME币争议 Javier Milei, the Argentine president, is facing impeachment due to cryptocurrency fraud allegations.

On February 14, Milei promoted the meme coin LIBRA online, claiming it would boost the development of Argentina's economy, small businesses, and startups. The coin's market cap soared to $4.5 billion, with a peak price of $4.50, but plummeted to $0.50 in just a few minutes.

Cryptocurrency analysts suspect that LIBRA is a pump-and-dump scheme, with developers cashing out around $87 million at the peak, leaving investors with significant losses. A few hours later, Milei deleted the post and denied any involvement, stating that he 'shared this project like he shares plans from other entrepreneurs.'

However, investors do not believe his explanation. Former president Cristina Fernández de Kirchner accused him of misleading thousands who trusted him. Argentina's anti-corruption office has launched an investigation, and the fintech chamber has labeled LIBRA a potential scam.

Opposition lawmaker Leandro Santoro called the incident a 'national disgrace' and demanded the initiation of impeachment proceedings. Meanwhile, Milei was forced to establish his own investigation team to look into this debacle.

Such matters, if it were in the U.S., would be resolved quickly. But in Argentina, it's a serious problem, and rolling around could cost him his head.