🚨 $280M Crypto Scandal: Argentina’s President Under Fire Over Meme Coin Meltdown 🇦🇷
In February 2025, Argentine President Javier Milei publicly endorsed LIBRA, a new meme coin, calling it “a tool for economic freedom.”
🚀 The coin soared as retail investors rushed in.
💥 Days later, it crashed 90%, wiping out $280M+ in value.
📉 Trust in local exchanges collapsed.
Now, Milei is facing:
100+ criminal complaints in Argentina ⚖️
A federal investigation into market manipulation 🔍
A U.S. class-action lawsuit accusing him of misleading promotion 💼
Calls for impeachment by opposition leaders 🧨
“I believed in the project. I never profited from it.” - Milei.
But critics say this was a "state-backed pump and dump."
As chaos unfolds, Bitcoin adoption is rising, while altcoins and meme tokens face major skepticism in Latin America.
Is this a turning point for responsible crypto leadership?
🧠 Lessons:
Public figures shilling unregulated coins = dangerous.
Decentralization ≠ immunity from accountability.
Trust is everything in crypto.