Argentine President Javier Milei is facing calls for impeachment following allegations linking his administration to a $107 million cryptocurrency scam known as the “Libra” rug pull. Opposition lawmakers have accused Milei of promoting the fraudulent project through government-affiliated channels, leading to significant financial losses for investors. The scandal has intensified political tensions in Argentina, where Milei’s pro-market and crypto-friendly stance has already been under scrutiny.
The controversy erupted after reports surfaced that Libra, a crypto investment scheme promising high returns, abruptly shut down, leaving investors without access to their funds. Critics claim that Milei’s administration played a role in legitimizing the project, with official social media channels allegedly amplifying its credibility. While Milei has denied any direct involvement, opposition leaders argue that his government’s endorsement misled the public, warranting a thorough investigation and potential impeachment proceedings.
Milei, a vocal advocate for financial decentralization and cryptocurrency adoption, has previously positioned himself as a champion of economic freedom. However, the Libra scandal threatens to undermine his credibility, as concerns grow over the government’s role in promoting risky investment schemes. The situation has sparked widespread debate over Argentina’s regulatory approach to cryptocurrencies and whether more oversight is needed to protect investors from fraudulent activities.
As pressure mounts, legal experts and political analysts suggest that impeachment proceedings could gain traction if concrete evidence of misconduct emerges. The scandal also raises broader questions about the intersection of politics and cryptocurrency in Argentina, with lawmakers calling for stricter measures to prevent future scams. Meanwhile, affected investors are demanding accountability and compensation, further fueling the political firestorm surrounding Milei’s administration.
