#MileiMemeCoinControversy The president of Argentina, Javier Milei, is at the center of a controversy related to the cryptocurrency $LIBRA. The scandal, dubbed "Cryptogate", has led to multiple complaints and calls for impeachment against him.

Promotion and Collapse of $LIBRA

In February 2025, Milei publicly promoted the cryptocurrency $LIBRA through his account on the social network X (formerly Twitter). Following his endorsement, the value of $LIBRA experienced a significant increase, rising from 0.3 cents to $4.978. However, shortly thereafter, its value plummeted, causing financial losses to approximately 40,000 people.

Reactions and Consequences

The political opposition has called for an impeachment trial against Milei, accusing him of misconduct and possible crimes related to the promotion of $LIBRA. Additionally, over 100 complaints have been filed against him before the Supreme Court of Argentina, alleging fraud and illicit association.

Milei has denied any direct involvement in the development of $LIBRA, stating that his intention was simply to disseminate information about the cryptocurrency and that he did not receive any personal benefit. In an interview, he declared: "I did not promote it, I disseminated it."

Ongoing Investigations

Given the magnitude of the scandal, the Anti-Corruption Office has initiated an investigation to determine if there were any improper behaviors by Milei or other senior government officials. Meanwhile, the Minister of Economy, Luis Caputo, has assured that this incident will not affect ongoing negotiations with the International Monetary Fund.

This episode has sparked an intense debate in Argentina about the responsibility of public officials in promoting investments and the need for greater regulation in the cryptocurrency market.