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# MileiMemecoinControversy Calls for jail for Milei after fraud with cryptocurrency Libra
The libertarian president of Argentina, Javier Milei, has been shaken by a scandal over his promotion of a memecoin whose value skyrocketed before collapsing, triggering calls for impeachment and lawsuits.
Buyers accused the creators of the coin of a possible "rug pull" scheme, where initial investors in the cryptocurrency attract others to inflate its price before quickly withdrawing their funds.
Political opponents have filed dozens of lawsuits accusing Milei of ethical violations, while the main leftist Peronist opposition bloc said it would initiate an impeachment process and accused him of "participation in a cryptocurrency fraud."
The libertarian president of Argentina, Javier Milei, has been shaken by a scandal over his promotion of a memecoin whose value skyrocketed before collapsing, triggering calls for impeachment and lawsuits.
Buyers accused the creators of the coin of a possible "rug pull" scheme, where initial investors in the cryptocurrency attract others to inflate its price before quickly withdrawing their funds.
Political opponents have filed dozens of lawsuits accusing Milei of ethical violations, while the main leftist Peronist opposition bloc said it would initiate an impeachment process and accused him of "participation in a cryptocurrency fraud."
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