Argentina's President Javier Milei is embroiled in controversy following the rapid collapse of the cryptocurrency $Libra, which he promoted. Investors initially saw a rise in the currency's value from fractions of a cent to $4.97, but it quickly crashed to $0.19, resulting in substantial losses for around 40,000 people. Facing over 100 complaints and accusations of facilitating a scam, Milei has been called a 'crypto fraudster' by critics, including former president Cristina Kirchner. Legal action and calls for impeachment are intensifying as prosecutors consider a criminal investigation against him.
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.
Within hours $Libra plummeted to $0.19, causing significant financial losses for approximately 40,000 investors, prompting lawsuits and impeachment calls for Milei.
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