Argentina’s President Milei Under Scrutiny Over $LIBRA Crypto Collapse

President Javier Milei of Argentina is facing severe backlash following his endorsement of the $LIBRA cryptocurrency, which lost nearly all its value shortly after launch, leading to substantial investor losses. Accusations of a scam and potential impeachment are surfacing as the government investigates the incident.

Argentina’s President Javier Milei is currently embroiled in controversy after endorsing a cryptocurrency named $LIBRA, which subsequently crashed dramatically, resulting in the loss of billions of dollars within hours. On February 14, after promoting the digital coin, $LIBRA’s value surged to nearly $5,000 per token, leading to a total market capitalization of $4.6 billion. However, the cryptocurrency plummeted below $1 soon after, leaving investors facing significant financial losses.

The controversy surrounding President Javier Milei’s endorsement of the $LIBRA cryptocurrency highlights concerns regarding potential corruption and market manipulation. With calls for impeachment mounting and investigations underway, this incident poses serious implications for Milei’s administration as it grapples with Argentina’s economic recovery.

Original Source: globalsouthworld.com