Argentine President Javier Milei Faces Impeachment and Fraud Allegations Over Cryptocurrency Scandal. 

Argentina:

Argentine President Javier Milei is facing mounting legal and political pressure after promoting a controversial cryptocurrency on social media, leading to accusations of fraud and calls for his impeachment. On Friday, Milei posted on X (formerly Twitter) about the $LIBRA coin, claiming it would support small businesses and startups. He included a link to purchase the coin, causing its price to surge before quickly plummeting after he deleted the post.

Critics accuse Milei of orchestrating a “rug pull”—a type of cryptocurrency scam where promoters artificially inflate the price and then disappear with the funds. Some opposition lawmakers have announced their intention to begin impeachment proceedings against the president. Meanwhile, legal complaints of fraud were filed in Argentina’s criminal court on Sunday.

In response, the presidential office explained that the post was removed to prevent “speculation” following public backlash. It emphasized that Milei was not involved in the cryptocurrency’s development and pledged that the Anti-Corruption Office would investigate whether any wrongdoing had occurred, including by the president himself.

The scandal has drawn sharp criticism from political opponents, including former President Cristina Fernández de Kirchner, who labeled Milei a “crypto scammer.” The main opposition coalition has condemned the incident as an “unprecedented scandal” and vowed to push for impeachment.