Argentina’s President Javier Milei under investigation over controversial crypto coin $LIBRA; impeachment calls grow
Argentina’s controversial President, Javier Milei, is in soup. Milei, known for his gruff, on the face style of leadership, is facing a formal investigation following his controversial endorsement of the little-known cryptocurrency LIBRA. LIBRA saw its value soar and then crash immediately, sparking accusations of fraud and calls for impeachment. Crypto observers since have called the scheme as ‘pump-and dump’.
A pump and dump in cryptocurrency refers to a manipulative trading scheme where the price of a cryptocurrency is artificially inflated (the “pump”) by coordinated efforts to hype up the token, often through social media, influencers, or misleading endorsements. This creates a surge in demand, driving up the price. Once the…
