Argentina’s president Javier Milei to be impeached for crypto rug pull

[btc_angela]

In a twist of fate,

President Javier, who has made free-market policies his entire brand, posted an endorsement for a meme coin, $LIBRE, on X (formerly Twitter) late Friday night, and the coin immediately surged to nearly $5 per token from just $0.006, drawing in eager buyers.

Just six hours later, its value collapsed to $0.84, triggering outrage and accusations of a rug pull. The fallout was immediate. So now, Congressional opposition leaders, already critical of Milei’s economic policies, want him out.

https://www.cryptopolitan.com/javier-milei-to-be-impeached-for-crypto-rug/

I didn't invest on this meme coin nor I heard about it. But it seems that many have lost their money here and it sounds like the President of Argentina shills for this token and so it goes to a huge pump.

But we all know what happens next, as it collapses to less than a dollar.

Just very unfortunate if the news is real that the President is part of this rug pull scam.

[freedomgo]

Being a president whose job is to serve the interests of the people, it's really not good to promote high risk investment, especially meme coins, because when you are a president, people won’t really look into the details of the coins you are promoting, they’ll just trust them because they trust you, so the focus of a president should only be on public service and making policies that are good for everyone, and his mistake is that he promoted a meme coin without studying its norms, which we all know that meme coins are highly volatile.

If there’s a ground for impeachment and huge damage has been done, especially to his people who have fallen into that investment, he might be impeached, because Argentina isn’t doing economically well, unlike the US where the economy is strong and people know Trump’s personality, so it’s acceptable for him to promote a Trump coin.

[Taskford]

In a twist of fate,

President Javier, who has made free-market policies his entire brand, posted an endorsement for a meme coin, $LIBRE, on X (formerly Twitter) late Friday night, and the coin immediately surged to nearly $5 per token from just $0.006, drawing in eager buyers.

Just six hours later, its value collapsed to $0.84, triggering outrage and accusations of a rug pull. The fallout was immediate. So now, Congressional opposition leaders, already critical of Milei’s economic policies, want him out.

https://www.cryptopolitan.com/javier-milei-to-be-impeached-for-crypto-rug/

I didn't invest on this meme coin nor I heard about it. But it seems that many have lost their money here and it sounds like the President of Argentina shills for this token and so it goes to a huge pump.

But we all know what happens next, as it collapses to less than a dollar.

Just very unfortunate if the news is real that the President is part of this rug pull scam.

Crazy but that's the consequence of the action he do since being a president he should maintain the public trust.

But with that things he do it give certain thoughts that they are been betrayed by their own president that's why those situation happen.

But let see if there's ongoing development will happen in that case since if it happens that Javier Milei will get impeach on that matter then provably those officials or President like Trump might worried that same situation will happen to them, especially their meme coins recently introduced is experiencing a massive dump.

[Swapter.io]

Eventually, he won’t be president forever. He will leave, and a new one will take his place, while most people will forget about him. So, while he still has the chance to appear in the media, he takes advantage of it—unfortunately, not for good purposes. To all those affected—press F to pay respect. But now we have the experience to approach any presidential manipulations with cryptocurrency with caution

[Charles-Tim]

But we all know what happens next, as it collapses to less than a dollar.

This is not new. People should just gamble with the altcoins and not invest on them. Just trade them. If you are lucky to make profit, sell immediately because the project will get bumped.

Just very unfortunate if the news is real that the President is part of this rug pull scam.

This will be the reason for impeachment. But it could be that the president does not know what meme coins are.

[Hispo]

But we all know what happens next, as it collapses to less than a dollar.

This is not new. People should just gamble with the altcoins and not invest on them. Just trade them. If you are lucky to make profit, sell immediately because the project will get bumped.

Just very unfortunate if the news is real that the President is part of this rug pull scam.

This will be the reason for impeachment. But it could be that the president does not know what meme coins are.

What's us up now with all this new trend of president from all around the world issuing their own memecoins and profiting off their public image and in detriment of their own people, it is just embracing this is what Blockchain technology is being used for, instead of pushing for technological advances and monetary freedom of the common people (using their money in a decentralized and censorship resistant way).
Even though it is clear Milei has some involvement with this coin (he promoted it, after all), I doubt he will be impeached over this, the opposition of Argentina is not enough enough yet and it would take people from his own party to turn against him and support impeaching him.

What is next, I wonder? Are we suppose to expect the president of El Salvador to also announce his own Memecoin and encourage all the country to buy in? These are crazy times we are witnessing.

[asriloni]

I absolutely believe Argentina's president was a part of this rug-pull. He's trying to wash his hand by issuing a mandate to the police to investigate it. That motherfucker has no credibility anymore. He has to be impeached.

I fully support his impeachment. He's scammer.

[markm]

Oh I see, everyone knows Trump is a scammer so its okay for him to scam, but this other President wasn't famously a scammer yet so its not okay for him to do so?

Or is it just that the scammer demographic voted Trump in so its okay for him to scam its what his voters want, a scammer as President, but the people of that other nation didn't know in advance, like the Americans did, that they were voting for a scammer?


-MarkM-

[dunfida]

In a twist of fate,

President Javier, who has made free-market policies his entire brand, posted an endorsement for a meme coin, $LIBRE, on X (formerly Twitter) late Friday night, and the coin immediately surged to nearly $5 per token from just $0.006, drawing in eager buyers.

Just six hours later, its value collapsed to $0.84, triggering outrage and accusations of a rug pull. The fallout was immediate. So now, Congressional opposition leaders, already critical of Milei’s economic policies, want him out.

https://www.cryptopolitan.com/javier-milei-to-be-impeached-for-crypto-rug/

I didn't invest on this meme coin nor I heard about it. But it seems that many have lost their money here and it sounds like the President of Argentina shills for this token and so it goes to a huge pump.

But we all know what happens next, as it collapses to less than a dollar.

Just very unfortunate if the news is real that the President is part of this rug pull scam.

If there's some shill from the President itself then pretty sure that she/he is included with that meme coin and made up some easy money with that. Its not new anymore that popularity and positions on which they are really that taking up advantage with that. The thing on here is on how they would really be that trying out to track up if the President itself involved with that rug pull? If there were no rules about having that kind of shilling then he/she might be that having no issue but speaking about ethicality and as a leader of the said country then you shouldnt really be that getting involved with this stuff.

If this one got impeached then they have seen something which did really have that solid evidence or whatever it might be in this regard with rug pull. For those who do love on dealing up with meme coins then its always not that ideal that you do go all in and get fomo'ed with some hype because once you do bought on the peak then that would really be a sure ending up on getting blown or ending up on holding a shitcoin.

[AbuBhakar]

It’s too careless of him if he really did this and not a result of hacking incident but I do understand if he do this since Trump dome this kind of move without experiencing a serious repercussions despite many investors lose money investing his meme tokens.

I don’t understand why people keep risking money on meme coins despite it was advertised by popular figure while it’s not a financial advice then blame everything once they lose even though it’s their decision to take risk.

[jstyler]

this whole situation is just embarrassing for Argentina's president, i mean how can you promote some random meme coin and then act like it's not your fault when it crashes? seems super suspicious to me

[uneng]

I had to check if that was really true, because it looks shocking for me that a chief of state can play a dirty role like that in front of everyone through his official channel of communication.

A president endorsing and promoting a pump and dump scheme is a very serious situation. The fact he is an economist just make it worse. I imagine some individuals connected to him must have made a quick wealth in a matter of minutes, while the fools who idolize him must have lost a lot.

It's not the first time he got involved in shady schemes, though. I read that in 2021 he was paid 10$ thousand dollars to promote a ponzi called CoinX, which promised returns of 8% monthly.

He isn't a random individual on the internet. What he shares and says has a heavy weight, so he should be more careful, responsible and sensible. If he wished to talk about a crypto, he should have talked it's a speculative investment, where there are risks and possibly losses.

[nelson4lov]

It's not like I have any reservations against him but I don't think he should get off easy especially the part he played in the rug. I get the fact that he didn't fully know what he was doing (if this was the truth) but then, he was too quick to offer endorsement which degens saw as a stamp of credibility for the token.

And we are already aware of tactics often used by influencers about being hacked when caught promoting a rug. This is the classic case of — "Mistakes were made in wallets that I control".

[Rosaba]

It’s always feel great when the government noticed something about the modernaty, but it almost every step they take always in unpredictable situations, I think it’s a common things to them to makes a difficult rules which is affect the project of the modernaty, either you make a profit for them or not.

[bbc.reporter]

This scandal has very much information to read and untwist. There is the Kelsier group which was working with the president's team which was also working with a chinaman who is leading another group called KIP which is also working with an insider on Meteora.

There are also rumors that the founder of Meteora who is also the founder of Jupiter onchain DEX on Solana was working with an influencer called threadboy before the token was released. This is a very much headshaking occurrence.


President Milei, the president of Argentina after rug

[TastyChillySauce00]

goes to show that meme trench in general is just a shitfest and people are actually losing money on these meme coin platform to insiders.

people now actually realize that the meme trenches isn't pvp, but player vs insider, see all those tweets in twitter exposing how insiders cashing out millions while the average joe are losing due to the rug.
very unfortunate but rug happen like everyday in the meme trench. it can't even be called speculation at this point, more like just scam.

[coin-investor]

This is the reason why influencers are not part of my criteria when investing in a coin, and if I am going to invest, I have my parameters and red flag rules to impose, and personalities should never hype a project much more than a president of a country because you are going to deceive the whole nation. Presidents should be truthful in all that they say.
The opposition is right in impeaching him; if he wants to invest, he should keep it to himself and not shill it. I'm sure many who lose money will come forward and file a case after he is impeached.

The impeachment drive is gaining serious momentum in Congress, with lawmakers demanding to know who profited from the token’s rise and fall. Santoro said that Javier’s endorsement created a financial trap, even if he was not directly involved.

[bettercrypto]

In a twist of fate,

President Javier, who has made free-market policies his entire brand, posted an endorsement for a meme coin, $LIBRE, on X (formerly Twitter) late Friday night, and the coin immediately surged to nearly $5 per token from just $0.006, drawing in eager buyers.

Just six hours later, its value collapsed to $0.84, triggering outrage and accusations of a rug pull. The fallout was immediate. So now, Congressional opposition leaders, already critical of Milei’s economic policies, want him out.

https://www.cryptopolitan.com/javier-milei-to-be-impeached-for-crypto-rug/

I didn't invest on this meme coin nor I heard about it. But it seems that many have lost their money here and it sounds like the President of Argentina shills for this token and so it goes to a huge pump.

But we all know what happens next, as it collapses to less than a dollar.

Just very unfortunate if the news is real that the President is part of this rug pull scam.

Honestly speaking, what the president did in Argentina is so shameful, I can't imagine he did it just because of his self-interest, he used his power just to make billions of dollars. And it seems like he succeeded in what he did.

But now KARMA is charging him with what he did, then to my knowledge the post he made on the X platform has been deleted and he suddenly denied that he had anything to do with it. The sad thing about the rug pull that happened is that his constituents throughout Argentina were affected and fell victim to Fomo.

[betswift]

goes to show that meme trench in general is just a shitfest and people are actually losing money on these meme coin platform to insiders.

people now actually realize that the meme trenches isn't pvp, but player vs insider, see all those tweets in twitter exposing how insiders cashing out millions while the average joe are losing due to the rug.
very unfortunate but rug happen like everyday in the meme trench. it can't even be called speculation at this point, more like just scam.

Memes are there to spike and die, so it's a scam where everybody is willing to risk, more like it 

[Sanitough]

For a public servant to endorse an investment, especially a meme coin, I think it is unethical. It's only fair that impeachment proceedings be filed against him. You know how politics works,  your opponents are just waiting to pounce on your mistakes to bring you down.

I'm kind of surprised the president doesn't realize the consequences of his actions. It would be one thing if everyone understood it as a high-risk investment, but what about those who thought they'd make easy money without considering the risks? That could very well be the basis for the impeachment filing.