It is a fairly improbable story that was played this Friday in Argentina. President Javier Milei firmly supported a new cryptocurrency before making a back machine when his course collapsed. He now risks dismissal.
An amazing initiative
It all started when the far -right politician published a tweet supporting the $ Libra token. Enthusiastic, the leader praised a “Private project dedicated to encouraging the growth of the Argentine economy” and promised that he “Would finance small businesses and Argentine companies”.
It was not necessary to trigger a major craze on the market. In less than an hour, $ Libra was flying by almost 2000 % and reached a capitalization of $ 4.5 billion. As often in such a case, the crypto course quickly collapsed and it almost lost everything he had won.
Later, an analysis of Bubblemaps warned that 82 % of this crypto was held by a single group, which quickly sold to collect a profit, plumming in passing the supporters of the president who thought they were doing a good deal.
While this project now feels the suffering, Javier Milei has decided to distance itself from it. He deleted his publication on X (Twitter):
A few hours ago, I published a tweet, like so many times, in support of an alleged private enterprise to which I obviously have no link. I was not aware of the details of the project and, after reflection, I decided not to continue to broadcast it (that’s why I deleted the tweet).
A retropedering in good standing, followed by conventional insults for its opponents: “To the dirty rats of the political caste who want to take advantage of this situation to do harm, I mean that, every day, they confirm how low politicians are and strengthen our conviction to kick them.”.
Despite this decline, it is not certain that the Argentinian president gets carried away. The opposition has indeed announced its intention to initiate a dismissal procedure. Quoted by the Reuters agency, Leandro Santoro, member of the Unión Por la Patria, a center-left party, announces:
This scandal, which embarrasses us internationally, forces us to launch a request for dismissal against the president.
However, a procedure which has little chance of succeeding, because two thirds of the votes should be obtained in the Senate.
Donald Trump’s crypto is controversial
As a reminder, Donald Trump, one of Javier Milei’s political allies, launched his own cryptocurrency shortly before the start of his mandate. An initiative that has greatly reacted and aroused fairly virulent criticisms, including members of this industry. To find out more, do not hesitate to reread our previous article here.
