Argentinian President's promotion of $LIBRA sparks controversy, legal team sues for fraud, opposition party threatens impeachment

Argentine President Javier Milei faced a backlash for promoting $LIBRA. Argentine lawyers have accused Javier Milei of fraud, while opposition party members threaten to impeach the president, potentially leading to a congressional impeachment trial. (Background: Will the founder of the largest protocol Solana be detained? Behind the scenes of Argentine President Token $LIBRA) (Additional context: Furious $LIBRA is a Rug! Solayer founder reveals loss of over 2 million euros; coin issuing team argues: funds will support Argentine companies) Argentine President Javier Milei briefly tweeted on the 16th to promote the meme coin $LIBRA developed by KIP Protocol and venture capital firm Kelsier Ventures CEO Hayden Davis, pushing $LIBRA's price to a peak of $4.62 billion in Market Cap. However, Javier Milei later deleted the tweet and clarified that he had no connection to the project, causing $LIBRA to big dump to almost zero. Milei Faces Fraud Charges According to the Associated Press, Argentine lawyers have accused Javier Milei of fraud, with lawyers Jonatan Baldiviezo, Marcos Zelaya, engineer María Eva Koutsovitis, and economist Claudio Lozano jointly filing a lawsuit. Claudio Lozano is a former President of the Argentine Central Bank. Jonatan Baldiviezo, one of the plaintiffs, stated that an illegal organization engaged in 'an indeterminate number of fraudulent acts' in this case: In this illegal organization, fraudulent crimes were committed, and the president's actions are crucial. The plaintiffs believe that Javier Milei's actions are similar to the Rug Pull commonly seen in the cryptocurrency market and accuse him of violating public morality laws. The criminal justice department is expected to appoint a judge to hear the case on Monday or refer it to the prosecutor for further investigation. Javier Milei denied prior knowledge of the token project, insisting he had no involvement in the scandal and would not benefit personally from the project. The Argentine President's office announced yesterday that an internal investigation will be launched to clarify any improper conduct in the token project. Hayden Davis, CEO of Kelsier Ventures, accused Javier Milei of initially publicly supporting and actively promoting Libra Token on social media platforms, with his team ensuring his public endorsement during Token issuance and assuring him of continued support. However, Javier Milei and his team suddenly changed their stance by deleting the post, leading to the collapse of the token. Facing Possible Impeachment by the Opposition Meanwhile, the Argentine opposition party has threatened to impeach the president. According to Reuters, Argentine opposition party parliamentarians stated that Javier Milei could face a congressional impeachment trial. Leandro Santoro, a member of the Argentine opposition alliance, stated: This scandal has embarrassed us internationally, and we must impeach the president in Congress. Related Reports: Argentine President Denies Issuing $LIBRA! Deleting the tweet led to a 95% drop in coin price, with the issuing team making a profit of 100 million euros. Ukraine plans to legalize Cryptocurrency in Q1 next year, Argentine President plans to open up free Bitcoin trading. Coin successfully completes VASP registration in Argentina, achieving the 20th global regulatory milestone. This article was originally published on Motion Zone BlockTempo, the most influential Blockchain news media.