Buenos Aires
\nArgentine President Javier Milei is under fire, facing calls for impeachment and legal accusations of fraud following his promotion of a cryptocurrency on social media, BBC reported.
\nOn Friday, Milei posted a message on X (formerly Twitter), endorsing the $LIBRA coin as a tool to help fund small businesses and startups, sharing a link to purchase the cryptocurrency.
\nThe price surged after his endorsement, but within hours, the post was deleted, and the cryptocurrency\u2019s value plummeted, leading to significant losses for investors.
\nThis sudden crash has sparked outrage, with some opposition members of Congress calling for impeachment proceedings against the president. Lawyers filed criminal fraud complaints against Milei in Argentina\u2019s courts on Sunday.
\nOnline critics have accused Milei of orchestrating a \u201crug pull,\u201d a deceptive practice where promoters artificially inflate the value of a cryptocurrency before abandoning it, leaving investors with worthless assets.
\nThey also pointed to the link he shared, which referenced a phrase commonly used in his speeches.
\nIn response, Argentina\u2019s presidential office explained that the post was deleted to prevent further speculation after public backlash.
\nThe office emphasised that Milei was not involved in the cryptocurrency\u2019s creation and that an investigation would be launched by the Anti-Corruption Office to examine potential misconduct.
\nHowever, plaintiffs in the case, including Jonatan Baldiviezo, argue that Milei\u2019s actions played a critical role in the alleged fraud.
\nMilei\u2019s political opponents, including former President Cristina Fern\u00e1ndez de Kirchner, have seized on the controversy, with Kirchner calling him a \u201ccrypto scammer\u201d in a widely shared post.
\nThe main opposition coalition has announced plans to file impeachment requests, calling the situation an \u201cunprecedented scandal.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Buenos Aires Argentine President Javier Milei is under fire, facing calls for impeachment and legal accusations of fraud following his promotion of a cryptocurrency on social media, BBC reported. On Friday, Milei posted a message on X (formerly Twitter), endorsing the $LIBRA coin as a tool to help fund small businesses and startups, sharing a […]<\/p>\n","protected":false},"author":2,"featured_media":462444,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":{"0":"post-462425","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-world"},"yoast_head":"\n