A social media post by Argentine President Javier Milei endorsing a cryptocurrency has sparked controversy, backlash, and impeachment threats
Argentine President Javier Milei is under fire and facing impeachment threats after promoting a cryptocurrency in a social media post, which later crashed.
Milei posted on X endorsing the little-known crypto coin $LIBRA, causing its value to surge to nearly $5 per token. However, just hours later, the cryptocurrency plummeted to below $1.
Argentina’s fintech chamber has acknowledged that the case could potentially be a "rug pull," a scheme in which developers inflate a token’s value through legitimate investments before selling off their holdings and causing its collapse.
Opposition lawmakers have announced plans to file an impeachment request against the president.
Milei deleted the post after a few hours, claiming he was unaware of the circumstances and had no connection to the cryptocurrency.
Argentina’s Presidential Office has announced the creation of a task force to investigate the launch of $LIBRA and the companies and individuals involved in its operation.
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The United States and Argentina have signed a framework agreement to strengthen cooperation on critical minerals on Thursday (4 February), reaffirming a shared commitment to building secure, resilient and competitive supply chains.
Argentina's economic activity shrunk 0.3% in November compared with the same month last year, marking the first monthly contraction of 2025, data from Argentina's national statistics agency showed on Wednesday.
President Javier Milei has introduced a new labour reform proposal to Argentina’s Congress, aiming to address what his administration describes as a "rigid structure" that has hindered job creation in the country.
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