Argentina’s president Javier Milei has come under fire for the abrupt collapse of a cryptocurrency he promoted, in a move that has triggered lawsuits and calls for his impeachment.
Milei is facing more than 100 complaints against him at the country’s supreme court, accusing him of participating in an alleged scam related to the cryptocurrency $Libra, which opposition politicians estimate has resulted in financial losses for 40,000 people.
On February 14, the Argentine leader posted a message on his X account, which has 3.8 million followers: “Liberal Argentina grows! This private project will be dedicated to encourage the growth of Argentina’s economy, funding small Argentine companies and ventures. The world wants to invest in Argentina. $Libra,” he said.
In a matter of minutes, $Libra went from being worth fractions of a cent to $4.97 per unit. But unfortunately for investors,…
