President Javier Milei of Argentina faced immediate backlash after promoting a newly launched cryptocurrency on social media. The cryptocurrency's value surged to $5 briefly before crashing to below $1, leading to accusations of potential market manipulation known as a 'rug pull.' Lawmakers from the opposition swiftly moved to request impeachment proceedings against him, citing embarrassment on an international scale. Milei claimed ignorance about the project details prior to his social media post and later deleted it, further intensifying the political turmoil surrounding his administration.
Milei's promotion of a cryptocurrency on social media caused its value to skyrocket before it plummeted, sparking backlash and calls for impeachment from opposition lawmakers.
Opposition lawmaker Leandro Santoro stated, 'This scandal, which embarrasses us on an international scale, requires us to launch an impeachment request against the president.'
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