Argentina Investigates President Milei in Crypto Scandal: Who’s the Real Winner?

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Argentina’s lawmakers have decided to dive into the deep end of the LIBRA memecoin fiasco, where President Javier Milei might have unwittingly, or perhaps knowingly, turned a few millionaires into very sad people. On February 14th, as if Valentine’s Day needed any more drama, Milei posted about this shiny new cryptocurrency on his social media. The result? LIBRA’s price soared faster than the hopes of a teenager getting a text back.

But like any good romance, it was too good to last. Within hours, the token plummeted, leaving over 75,000 retail investors—people who probably thought they were getting in on the next big thing—holding the equivalent of a broken heart and a $280 million loss. Milei, in a move that screams “I’m not saying I told you so, but I told you so,” deleted his posts five hours later. How’s that for an ‘oops’ moment?

Now, accusations of a classic “rug pull” scam—where investors are left hanging after the price of an asset is artificially inflated—are swirling. It’s like being sold a ticket to a concert and then realizing you’re just watching an empty stage. And guess what? Argentina’s lower house of Congress, aka the Chamber of Deputies, is officially looking into it.

In a move that has all the political finesse of a toddler playing with Legos, the Chamber approved three resolutions to investigate the mess. The first one? A commission will be formed to look into the matter, and it passed with 128 votes in favor, 93 against, and 7 abstentions (which, let’s be honest, is just the political equivalent of saying, “I don’t want to get involved”).

The second resolution is even juicier: they want to grill some big wigs in Milei’s circle, including Chief of Staff Guillermo Francos and Minister of Economy Luis Caputo. The vote? 131 in favor, 96 against. Apparently, not everyone wants to see these people sweating under a hot spotlight.

And the third resolution? It’s a request for all sorts of reports about LIBRA from the national government, passed with 135 votes in favor. It seems like Congress is really committed to finding out where all those millions went—and whether Milei knew exactly what he was doing when he posted that tweet.

So, in case you were wondering, nothing screams “trustworthy financial advice” like a meme coin, a sudden crash, and the government swooping in like a group of detectives in a bad movie. Stay tuned, folks. This one’s just getting started. 🕵️‍♂️💸

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2025-04-10 20:04