BUENOS AIRES (Reuters) – Argentine President Javier Milei could face a process of impeachment in Congress, said opposition parliamentarians on Saturday, after the libertarian leader released a cryptocurrency whose price then plummeted.
Milei posted on Friday at the X Recommendation of the little known cryptocurrency $ Libra, whose price soon after fired to nearly $ 5 each. A few hours later, however, cryptocurrency plummeted to less than $ 1.
The Fintech Chamber of Argentina acknowledged that the case could potentially be a “carpet pulled”, in which developers of an encryption token attract legitimate investments, increasing the value of the asset, only and then undoing their participation.
“This scandal, which shames us on an international scale, requires that we submit an impeachment request against the president,” said legislator Leandro Santoro, a member of the opposition coalition.
Milei excluded the post on X, with local media saying that the post was aired for a few hours on Friday night. He later said he removed his post after becoming aware of the circumstances and had nothing to do with cryptocurrency.
“I was not aware of the details of the project and, when I found, I decided not to continue to publicize him,” he said.
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(Report by Jorge Otaola)
