Amidst a growing backlash, Argentine President Javier Milei is facing potential impeachment and accusations of fraud following a controversial promotion of a cryptocurrency that led to significant financial losses for investors.
Argentina's Javier Milei Faces Impeachment Amid Crypto Controversy
Argentina's Javier Milei Faces Impeachment Amid Crypto Controversy
Calls for impeachment and legal action arise after President Milei promotes cryptocurrency linked to investor losses.
In a dramatic turn of events, Argentine President Javier Milei is under intense scrutiny as opposition lawmakers announce plans to impeach him and legal complaints alleging fraud emerge. This follows his promotion of the $LIBRA coin on social media, where he claimed it would support small businesses and startups. After sharing a link to purchase the cryptocurrency, its value dramatically surged before plummeting hours later, leaving many investors in the lurch.
The fallout was swift; members of Congress formally declared their intent to initiate impeachment proceedings against Milei. Concurrently, attorneys lodged fraud complaints in Argentina's criminal court, with some accusing Milei of executing a "rug pull," a term used when promoters encourage purchases only to abandon the currency, pocketing the sales proceeds. Critics noted that the link he shared was intricately tied to his campaign rhetoric.
Despite the backlash, officials from Milei's presidency stated that the post’s removal was a precaution against "speculation" spurred by public reaction. They emphasized that Milei had no role in the cryptocurrency's creation, and the government’s Anti-Corruption Office would investigate any potential misconduct.
Jonatan Baldiviezo, a plaintiff in the legal case, asserted that the president's actions played a vital role in what he categorized as fraud. Political opponents, including former President Cristina Fernández de Kirchner, have seized the moment to criticize Milei, labeling him as a "crypto scammer" in a widely circulated post.
As the spotlight intensifies on Milei’s administration, the main opposition coalition is rallying support for impeachment, declaring the incident an "unprecedented scandal." Esteban Paulón from the Socialist Party has joined the chorus, advocating for impeachment proceedings to commence.
The fallout was swift; members of Congress formally declared their intent to initiate impeachment proceedings against Milei. Concurrently, attorneys lodged fraud complaints in Argentina's criminal court, with some accusing Milei of executing a "rug pull," a term used when promoters encourage purchases only to abandon the currency, pocketing the sales proceeds. Critics noted that the link he shared was intricately tied to his campaign rhetoric.
Despite the backlash, officials from Milei's presidency stated that the post’s removal was a precaution against "speculation" spurred by public reaction. They emphasized that Milei had no role in the cryptocurrency's creation, and the government’s Anti-Corruption Office would investigate any potential misconduct.
Jonatan Baldiviezo, a plaintiff in the legal case, asserted that the president's actions played a vital role in what he categorized as fraud. Political opponents, including former President Cristina Fernández de Kirchner, have seized the moment to criticize Milei, labeling him as a "crypto scammer" in a widely circulated post.
As the spotlight intensifies on Milei’s administration, the main opposition coalition is rallying support for impeachment, declaring the incident an "unprecedented scandal." Esteban Paulón from the Socialist Party has joined the chorus, advocating for impeachment proceedings to commence.
