Opposition MPs in Argentina have called for impeachment of President Xavier Milli after promoting a cryptocurrency, eliminating $ 4.4 billion in the market price and questioning the President’s conduct.
Milei began the controversy after posting a recommendation for $ Libra tokens on X, causing the price to be around $ 5 before crashing within hours.
Opposition legalist centoro Announced Plan for an impeachment request, declaration of the event “embarrass us on an international scale.”
Solana (Sol) -sly token, which was allegedly designed to promote Argentina’s economy through small project funding, showed several red flags from the installation.
The hasty website created by the project showed only a basic Google form for the financing of applications and lacked fundamental tokenomics information or ownership transparency.
The on-chain analysis revealed a coordinated extraction of value by interiors, in which the project team deposited $ 107 million via sophisticated liquidity manipulation.
Eight connected wallets collected 57.6 million USDC and 249,671 SOLs ($ 49.7 million) through various trading mechanisms, marking one of the fastest and fastest collapse in the history of meme coins.
Argentina’s Fintech Chamber mentions the possibility of pulling a rug
Argentina’s Fintech Chamber has acknowledged the possibility of a “Galicha Bridge” scheme, where developers artificially increase the value of a token through valid investment before liquid to their positions.
The incident has made the headlines of Argentina’s cryptocurrency governance and raised concerns about the President’s decision in digital asset matters.
Milli tried to overcome the controversy, removed his pracharak and claimed ignorance of project details. In a statement, he described the specialty of backlash as an attempt to reduce his presidential post “Dirty mice of political caste”. However, opposition members see their participation as potentially harmful conduct.
Similarities for trump
Milei’s aggressive “ChainsawReuters reported that Reuters said, Reuters, to reduce the government’s expenses to reduce the federal rules and efforts to reduce the money to reduce the government’s expenses.
Trump’s critics have also raised the issue with the support of meme coins and the conflict of interests arising out of their crypto profits – all while investors harm billions.
