Argentina’s President Javier Milei Faces Impeachment Calls Over Crypto Scandal
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Javier Milei, Pres. Argentina In February 2025, Argentine President Javier Milei found himself at the center of a burgeoning scandal dubbed "Cryptogate." The controversy erupted after Milei promoted a new cryptocurrency called $LIBRA on his social media platforms, leading to significant financial losses for investors and sparking calls for his impeachment. The $LIBRA token experienced a meteoric rise in value, surging from nearly zero to $5, before abruptly crashing to less than $1. This dramatic fluctuation raised suspicions of a "rug pull" scam—a scheme where the creators of a cryptocurrency abruptly withdraw their funds, leaving investors with worthless assets. In the aftermath, Milei deleted his promotional posts and claimed ignorance about the project's specifics, stating that he intended merely to support Argentine initiatives. The fallout was swift and severe. Over 40,000 investors reported substantial losses, l...