Argentine President Milei’s Crypto Endorsement Triggers Scandal
Javier Milei, Argentina’s president, is under fire after endorsing the cryptocurrency $LIBRA, causing its market value to skyrocket to $4.5 billion. However, just hours later, Milei deleted his post, claiming he was unaware of the project’s details. The token’s value then plummeted below $200 million, leading to massive investor losses.
Critics accuse Milei of enabling a rug pull, with Argentine lawyers filing criminal charges and opposition politicians calling for his impeachment. While Milei’s office denies any wrongdoing, the Anti-Corruption Office has launched an investigation.
The controversy has reignited concerns about politicians endorsing speculative cryptocurrencies. Many in the crypto community argue that such actions mislead investors, fueling calls for stricter regulations.
