Argentina's President Faces Impeachment Over LIBRA Token
Date: 2025-02-17 Author: Henry Casey Categories: IN WORLD
Argentine President Javier Miley called the LIBRA token "a unique investment opportunity." After his statement, the token's value skyrocketed, but developers soon withdrew their assets, sending the price below $1. Members of the Argentine Congress's Finance Committee compared the situation to a typical rug pull.
"This case has damaged our reputation on the international stage. Such fraud cannot go unpunished, and we must initiate impeachment proceedings," said opposition lawmaker Leandro Santoro.
In response to the allegations, the presidential administration issued a statement asking the Anti-Corruption Agency to investigate. The agency must determine whether members of the government, including the president himself, were involved in the LIBRA scam.
According to the analytical platform LMK, 24 traders lost a total of over $1 million, while another 61 investors lost over $500,000. One user suffered losses of $5.17 million, having bought 2.1 million tokens for $5.6 million but sold them for only $430,000.
Later, Javier Miley made a public apology, noting that he was not familiar with the details of the project. The Argentine authorities promised to strengthen the fight against cryptocurrency crimes to prevent similar cases in the future.
