#MileiMemeCoinControversy

More about President Javier Milei 💥

Argentine Javier Milei’s presidency is reportedly in jeopardy following the LIBRA scandal – a cryptocurrency project launched on Solana that he backed that ended up being a major disaster. Milei is on his way to Washington this week, hoping to meet with US President Donald Trump, Bloomberg reports.

Milei charged with fraud in LIBRA promotion

Argentine President Javier Milei has reportedly been charged with fraud by Argentine lawyers in connection with the promotion of the LIBRA memecoin, the Associated Press reported. He is currently facing impeachment threats in the country.

A Bloomberg article today noted that after Milei promoted the LIBRA memecoin, his presidency in Argentina went into “crisis mode.”

LIBRA Chaos

The memecoin, initially promoted by Milei last week, soared but has since lost over $$ 4.4 billion in market cap, sending the memecoin market into a tailspin.

Bloomberg reported that investors including Barstool Sports founder Dave Portnoy have suffered huge losses, calling the project “the biggest failure of all time.”

The event is now considered the subject of an internal government investigation, and prominent members of the cryptocurrency industry are “pointing fingers at each other” as Milei tries to recover from the chaos.

Do your own research!!