After promoting a little-known cryptocurrency, whose price skyrocketed before plummeting, resulting in losses for thousands of investors, Argentine President Javier Milei is being called for impeachment. With the opposition accusing Milei of supporting a scam—a charge the administration has refuted—the news has sparked a significant scandal in Argentina.
The president began it with a tweet to his X account, which has over 3.8 million followers. With a link to the $LIBRA cryptocurrency initiative, he added, “This private project will be dedicated to encouraging the growth of the Argentine economy.
Milei removed the message a few hours later and claimed to have no connection to the project in a subsequent post. “I didn’t know the project’s specifics, and after learning about it, I decided to stop spreading it,” he stated.
Milei’s team characterised the occurrence as an error in response to a CNN investigation. To find out if it will take action, CNN has contacted Argentina’s stock market regulator, the National Securities Commission.
“President Javier Milei has decided to immediately involve the Anti-Corruption Office to determine whether there was improper conduct on the part of any member of the national government, including the president,” the president said on Saturday, announcing an investigation into the incident.
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