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Milei promotes cryptocurrency, price collapses and opposition calls for impeachment
Opposition lawmakers in Argentina said Saturday that President Javier Milei could face impeachment after promoting a cryptocurrency that saw its value plunge in just a few hours.
On Friday night, Milei posted on social media platform X recommending the cryptocurrency $LIBRE, which is little known in the market. After the announcement, the asset quickly appreciated, reaching almost US$5.
However, a few hours later, the cryptocurrency suffered a sharp devaluation, falling to less than US$ 1. The episode generated reactions in the financial market and criticism from opposition parliamentarians.
On Friday night, Milei posted on social media platform X recommending the cryptocurrency $LIBRE, which is little known in the market. After the announcement, the asset quickly appreciated, reaching almost US$5.
However, a few hours later, the cryptocurrency suffered a sharp devaluation, falling to less than US$ 1. The episode generated reactions in the financial market and criticism from opposition parliamentarians.
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