$LIBRA Rug Pull: Javier Milei Faces Impeachment Threat

Argentine President Javier Milei is facing impeachment calls after endorsing the cryptocurrency $Libra, which collapsed in what many suspect to be a “rug pull” scam. Milei had promoted the token on social media, leading to a surge in its market capitalization to $4.56 billion. However, within hours, its value plummeted by 94%, causing investors to lose approximately $107 million.

Opposition lawmaker Leandro Santoro has accused Milei of tarnishing Argentina’s reputation and is pushing for impeachment proceedings. In response, Milei denied involvement in $Libra’s development and called for an investigation into all government officials, including himself.

This incident highlights the increasing overlap between politics and cryptocurrency. In the U.S., former President Donald Trump launched the $TRUMP meme coin ahead of his 2025 inauguration, drawing criticism over ethical concerns and potential conflicts of interest. Similarly, Senator Cynthia Lummis has championed a proposal for a U.S. Bitcoin reserve, raising questions about government involvement in digital assets, and immediately, a digital token with her name was launched. Still, it also turned out to be a zero-perspective coin.