Tag #Crypto Scam

What are the immediate consequences of President Milei's promotion of the cryptocurrency "$LIBRA", and how does this impact Argentina's political landscape?

Argentine President Javier Milei promoted the cryptocurrency "$LIBRA" on social media, causing its market cap to surge to over \$4 billion before plummeting by 95%, resulting in losses for 40,000 investors. Milei subsequently admitted a mistake, claiming ignorance of the project's details and removing his promotional post. The opposition is now pursuing impeachment proceedings.