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Argentina’s President Could Face Impeachment Trial After Crypto Push
February 17, 2025
Argentina’s President Javier Milei could face impeachment after promoting the cryptocurrency $LIBRE, which surged to nearly $5 before crashing 80% to under $1. Last Friday, Milei recommended the little-known token on social media causing its price to spike. Critics suspect it was a “rug pull” scam, where developers artificially inflate a cryptocurrency’s value before abandoning it. Opposition lawmaker Leandro Santoro called for Milei’s impeachment, while Argentina’s fintech chamber raised concerns about a possible scam. Milei deleted the post after learning more and denied any involvement, stating he wasn’t aware of the project’s details. The presidency announced an investigation through the Anti-Corruption Office to determine any improper conduct. Critics, including former president Cristina Kirchner, have labeled Milei a “crypto-scammer,” and lawmakers are pushing for a special inquiry into his role in the promotion.
Argentina’s dollar bonds traded stable with its 3.5% 2041s up at 61.6, yielding 10.97%.
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