Argentina President Faces Impeachment Over Crypto Controversy

Argentina's President Javier Milei is under scrutiny after promoting the $LIBRA cryptocurrency, which rapidly crashed, leading to significant financial losses for investors. While Milei denies promoting the token and claims he acted in good faith, prosecutors are investigating potential fraud and misconduct related to his involvement. Critics, including economists and opposition leaders, suggest that Milei's actions may amount to negligence or participation in a 'rug pull' scheme, where developers profit at the expense of investors. Following the controversy, Milei deleted a promotional post but subsequently retweeted guidance on acquiring the token, raising further concerns. The situation has triggered discussions about possible impeachment and has negatively impacted Argentina's economy, with the peso depreciating against the dollar and the stock market reacting unfavorably. As investigations unfold, calls for transparency and accountability in Milei's crypto engagements grow louder.