What controversy is Argentine President Xavier Milei facing regarding cryptocurrency?
Argentine President Xavier Milei is facing intense backlash after promoting the Libra cryptocurrency on social media, which subsequently crashed and lost investors over $4 billion. While Milei claims he didn't promote but merely 'spread' information about Libra, Argentina's Federal Prosecutors Office is investigating potential fraud and breach of duty charges. The scandal has significant political ramifications, with former President Christina Kirchner labeling Milei a 'crypto scammer' and opposition parliamentarians seeking his impeachment. Industry observers believe the operation was likely a 'rug pull' scam where developers attracted investors before quickly cashing out, affecting approximately 40,000 people.
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Argentina's President Milei and Cryptocurrency Controversy
WION·7 months ago
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