President Javier Milei of Argentina is under impeachment threats after endorsing the LIBRA cryptocurrency, which was intended to aid small businesses but instead suffered a crash, wiping out billions in value. After promoting the token in a tweet, Milei retracted his support, saying he was unaware of the project’s details, which led to market panic and substantial losses.
Argentina’s President Javier Milei faces potential impeachment threats due to his endorsement of a cryptocurrency called LIBRA. This token was marketed as a means of supporting small businesses but experienced a catastrophic value collapse, leading to billions in losses. An opposition lawmaker criticized the incident, stating it reflects poorly on Argentina internationally.
In summary, President Milei’s endorsement of the LIBRA cryptocurrency has led to significant financial losses and a crisis of trust, prompting calls for his impeachment. The rapid valuation surge followed by a market crash has raised suspicions about the legitimacy of the project, and lawmakers express concern over potential fraud.
Original Source: www.coindesk.com
