#MileiMemeCoinControversy
The #MileiMemeCoinControversy erupted after Argentine President Javier Milei endorsed a cryptocurrency called $LIBRA, which later collapsed in what many suspect was a rug pull scheme. On February 14, Milei promoted the token as a private initiative to boost Argentina’s economy. The endorsement led to a surge in value, reaching a $4.5 billion market cap. However, within hours, the token plummeted by over 90%, wiping out millions in investor funds.
Amid public outrage, Milei deleted his post and distanced himself from the project, claiming he wasn’t fully informed. Opposition leaders have since filed lawsuits and called for impeachment, accusing him of fraud and ethical violations. The scandal, now called "Cryptogate," has shaken Argentina’s markets, with the S&P Merval index dropping in response. Investigations are ongoing, and the case raises questions about public officials endorsing risky financial assets.
