Javier Milei
What happened with President Javier Milei's promotion of the Libra virtual coin?
President Javier Milei promoted the virtual Libra coin on social media platform X last Friday, claiming it would encourage economic growth by funding small businesses and startups. Following his endorsement, the price of Libra skyrocketed almost immediately. However, the situation quickly deteriorated when the coin's value began to drop. In response, Milei deleted his original post, but this action couldn't prevent the cryptocurrency from ultimately crashing. The incident has led to significant financial losses for investors and sparked accusations of fraud, with the president now potentially facing impeachment proceedings.
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Al Jazeera English
00:45 - 01:06
What legal challenges is President Javier Milei facing over the Libra coin controversy?
President Javier Milei is confronting serious legal challenges with over 100 complaints filed against him, accusing him of illicit association and fraud related to his promotion of the virtual coin Libra. The controversy stems from his endorsement of the cryptocurrency that subsequently crashed, causing significant financial losses for investors. Beyond the criminal complaints, there are growing calls for Milei's impeachment among lawmakers and citizens. This political crisis has erupted amid Argentina's ongoing economic challenges, with the investigation into Milei's role in the Libra coin promotion continuing to develop.
Watch clip answer (00:10m)Al Jazeera English
01:06 - 01:17
What is President Milei's current priority amid the Libra coin controversy?
Despite the ongoing controversy surrounding the Libra virtual coin and allegations of fraud, President Milei's priority remains focused on reducing Argentina's inflation rate and guiding the country toward economic growth. This economic focus continues even as he faces serious political consequences, including an investigation into his role in what many are calling a fraudulent scheme. The situation has escalated to the point where Milei faces potential impeachment, yet he maintains his commitment to addressing Argentina's economic challenges. While the investigation into the Libra coin incident continues, Milei appears determined to keep his administration's focus on broader economic reforms rather than the cryptocurrency controversy.
Watch clip answer (00:17m)Al Jazeera English
01:52 - 02:09