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Memecoin Scandal Threatens Argentine President Javier Milei
Argentinian president Javier Milei is facing calls for impeachment and a possible criminal investigation for his role in the rise and fast collapse of a memecoin.
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. Former Argentinian president Cristina Kirchner claimed that Milei was a “crypto fraudster,” in a lengthy post on X in which she also accused him of turning the country into a casino in which he was the croupier. “Despite prior commitments, Milei and his team unexpectedly reversed their position, withdrawing their support and removing all previous endorsements on social media,” Davis claimed, indicating that this setback would have triggered panic selling of the token.
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