President Javier Milei's endorsement of the '$LIBRA' cryptocurrency on social media triggered a surge in its value to $4,978 before plummeting to under $1 within hours. In response, opposition lawmakers are considering impeachment, and experts are warning of a possible 'rug pull' scam.
This latest incident adds to Milei's history of cryptocurrency controversies, including his 2021 involvement with CoinX, which is currently under fraud investigation. The situation raises questions about presidential behavior and has the potential to exacerbate political divisions in Argentina, influencing trust in cryptocurrencies.