Argentinian President Javier Milei faces impeachment for supporting the LIBRA token
The President of Argentina, Javier Milei, is facing impeachment threats for supporting a cryptocurrency called LIBRA. This cryptocurrency was reportedly designed to support small businesses but actually collapsed within hours and lost billions of dollars in value. In an X post (now deleted) released later on Friday, Milei promoted LIBRA as a privately operated project aimed at raising funds for Argentine small and medium-sized companies, adding that he would not personally profit from the project. As people became confused about the legality of Milei's tweet, the token's market value quickly soared to about $4.5 billion, leading to speculation that his account may have been hacked or he had been deceived by scammers. Five hours later, Milei deleted the post saying he "did not know the details of this project", and now upon learning about it has chosen not to continue promoting it.
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