Last news in Fakti

The opposition in Argentina threatened to impeach President Milley over cryptocurrency

The cryptocurrency promoted by the head of state collapsed in hours to a value of less than 1 US dollar

Feb 16, 2025 06:15 154

The opposition in Argentina threatened to impeach President Milley over cryptocurrency  - 1

Argentine President Javier Milley is threatened with impeachment, Reuters reported, quoted by BTA, referring to statements from last night by opposition deputies in the Argentine parliament.

The reason is the head of state's promotion of a cryptocurrency, which collapsed in hours to a value of less than 1 US dollar, Reuters specifies. Milley has been agitating Argentines to buy the crypto coin "libre" ($LIBRE), which initially shot up to 5 dollars.

The actions could be interpreted as "pulling the rug" - first attracting legal investments by "inflating" the price, and then giving up on equity participation, Reuters notes.

"This scandal, which disgraces us on a global scale, obliges us to submit a proposal for the impeachment of the president," said opposition bloc lawmaker Leandro Santoro.

Milley deleted his post on the social platform "Ex", in which he called for the purchase of the cryptocurrency in question, on the night of Friday to Saturday.

"I was not aware of the details. Once I realized the consequences, I decided not to support this anymore," said the Argentine president.