Controversy Surrounds Argentine President Over Cryptocurrency Endorsement

Argentine Leader Faces Impeachment over Cryptocurrency Debacle

Javier Milei, the President of Argentina, is under pressure as impeachment discussions emerge following his endorsement of a cryptocurrency named LIBRA. Although the initiative was promoted as a means to assist small businesses, it dramatically devalued within hours, leading to substantial financial losses reported in the billions.

Initially, Milei had taken to X to advocate for LIBRA, describing it as a private venture intended to financially support small to medium-sized enterprises in Argentina. He emphasized that he had no personal financial interests tied to this project. However, this post has since been removed.

The sudden collapse of LIBRA has sparked significant political consequences, with lawmakers considering measures that could lead to Milei's impeachment.