The launch of Javier Milei's cryptocurrency, $Libra, quickly became a national scandal in Argentina after a tweet on Valentine's Day. Despite a significant initial interest, the value collapsed shortly after launch, leading to $250 million in losses for many investors. Criticism mounted against Milei, with accusations of scamming and calls for impeachment from opposition parties. A federal investigation was initiated, while Milei traveled to Washington to speak at an event alongside former President Trump, who faced similar controversies with his cryptocurrency endorsement, $Trump.
The scandal began with a tweet. President Javier Milei launched a new cryptocurrency on Valentine's Day, resulting in $250 million losses after a classic rug-pull.
In mere hours, $Libra's value soared following Milei's endorsement, only to collapse dramatically as insiders sold off their stakes, leaving many investors in financial ruin.
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