Argentine President Javier Milei is facing growing calls for impeachment and legal action after a cryptocurrency he promoted on social media crashed, leaving investors with massive losses
On Friday, Milei took to X (formerly Twitter) to endorse the $LIBRA coin, claiming it would support small businesses and start-ups. His endorsement sent the coin’s value soaring, but hours later, he deleted the post, triggering a sharp decline that wiped out investor funds.
In response, Argentina’s opposition has announced plans to initiate impeachment proceedings, while fraud complaints were filed in the country’s criminal court on Sunday. Critics have accused Milei of orchestrating a “rug pull,” a type of crypto scam where promoters inflate a coin’s value before abandoning it. They also pointed out that the purchasing link he shared contained a phrase commonly used in his speeches.
Milei’s office defended him, stating that the post was removed to prevent “speculation” and that he had no direct involvement in the cryptocurrency’s creation. The government’s Anti-Corruption Office has been tasked with investigating whether any wrongdoing occurred.
Among Milei’s critics is former President Cristina Fernández de Kirchner, who labeled him a “crypto scammer” in a viral post that has amassed over 6.4 million views. The country’s main opposition coalition has described the situation as an “unprecedented scandal” and vowed to file an impeachment request, with opposition figure Esteban Paulón also pushing for proceedings.
Follow Us on Facebook – @LadunLiadi; Instagram – @LadunLiadi; Twitter – @LadunLiadi; Youtube – @LadunLiadiTV for updates
Story….
Toor