Milei is accused of fraud for promoting cryptocurrency and faces impeachment proceedings.
The Argentine president's post on X boosted the value of the digital currency, but its removal caused a sharp drop and losses for investors.
247 - The political and financial scandal involving Argentina's far-right president, Javier Milei, for promoting the cryptocurrency $LIBRA on his social media has taken new turns this week. The opposition in Congress plans to open impeachment proceedings against him, while lawyers have filed lawsuits accusing the former president of fraud. This information comes from [source name/source]. BBC.
On Friday (16), Milei posted on X, formerly Twitter, that the digital currency would help finance small businesses and startups, encouraging his followers to buy it. The announcement caused the price of the asset to skyrocket. However, a few hours later, the president deleted the post, which caused a sharp drop in the value of the cryptocurrency, leading to significant losses for investors.
The opposition reacted quickly to the episode. Former president Cristina Fernández de Kirchner called Milei a "cryptocurrency scammer" in a post that went viral, reaching over 6,4 million views. The main opposition coalition described the case as an "unprecedented scandal" and promised to file a formal impeachment request. Esteban Paulón, of the Socialist Party, also stated that he will request the opening of proceedings against the president.
In addition to the political repercussions, legal experts filed lawsuits against Milei, accusing him of fraud. Jonatan Baldiviezo, one of the plaintiffs, told the Associated Press that "the crime of fraud was committed, in which the president's actions were essential."
On social media, Milei was also accused of engaging in a "rug pull," a common scam in the cryptocurrency market where creators promote an asset to attract investors and then abandon the project, leaving buyers with losses. Internet users pointed out that the link shared by the president referenced a phrase he often uses in his speeches.
The presidential office reacted to the criticism on Saturday (17), justifying that the removal of the post was a measure to avoid "speculation" in the face of the negative repercussion. The government also stated that Milei was not involved in the creation of the cryptocurrency and that the Anti-Corruption Office will investigate whether there were irregularities, including the conduct of the president himself.
