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NewsBriefs - Argentina's opposition considers impeachment of President Milei after endorsing failed crypto token $LIBRA

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  • Reuters

    Argentina's opposition considers impeachment of President Milei after endorsing failed crypto token $LIBRA

    Argentine President Javier Milei could face an impeachment trial after promoting a crypto token, $LIBRA, which dramatically crashed shortly after his endorsement. Milei publicized the token on social media platform X, causing its value to initially surge to nearly $5, only to plummet below $1 within hours. The incident led to accusations of a possible 'rug pull,' a scam where token creators abandon the project after profiting from investment surges. Milei has denied any affiliation with the crypto project and retracted his support upon learning more about the situation. Opposition lawmakers, led by Leandro Santoro, are pushing for impeachment citing international embarrassment caused by the scandal.

    Reuters

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    • The Block

      Meteora co-founder Ben Chow resigns amid Libra fallout

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    • Reuters

      Argentina's opposition considers impeachment of President Milei after endorsing failed crypto token $LIBRA

      Argentine President Javier Milei could face an impeachment trial after promoting a crypto token, $LIBRA, which dramatically crashed shortly after his endorsement. Milei publicized the token on social media platform X, causing its value to initially surge to nearly $5, only to plummet below $1 within hours. The incident led to accusations of a possible 'rug pull,' a scam where token creators abandon the project after profiting from investment surges. Milei has denied any affiliation with the crypto project and retracted his support upon learning more about the situation. Opposition lawmakers, led by Leandro Santoro, are pushing for impeachment citing international embarrassment caused by the scandal.

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      Reuters

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    • SEC.gov | EDGAR

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    • The Block

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    • The Block

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