Argentina Opposition Threatens Milei Impeachment

Argentina’s President Faces Impeachment Over LIBRA Cryptocurrency Scandal

• President Javier Milei endorsed the cryptocurrency LIBRA, claiming it would support small businesses.
• The token’s market capitalization initially surged to $4.5 billion amid confusion over Milei’s endorsement.
• Milei deleted his promotional post after five hours, citing lack of awareness about the project details.
• The market crashed by 90%, wiping out over $4 billion in value.
• Insiders reportedly cashed out $87.4 million worth of tokens during the panic.
• The Argentine fintech chamber suggested the incident might be a “rug pull” scam.

Lawmaker Leandro Santoro announced an impeachment request against President Milei following the LIBRA token crash, which erased over $4 billion in market value and raised concerns of a potential scam.