Argentina president accused of fraud over crypto crash
Argentina president accused of fraud over crypto crash
Some have accused Javier Milei of performing a "rug pull" after he promoted a virtual coin on social media.
Summary
Argentine President Javier Milei faces impeachment calls and fraud accusations after promoting the $LIBRA cryptocurrency on social media.
His endorsement caused a price surge, but after he deleted the post, the coin crashed, wiping out investor funds.
Critics accuse him of a "rug pull" scheme, while the government denies wrongdoing and announced an anti-corruption probe.
Argentina’s main opposition coalition calls the incident an “unprecedented scandal” and preparing to seek his impeachment.
Coffeezilla is doing an investigation right now, I'm looking forward to the conclusions.
Came here to post the interview. Good stuff. Incriminating stuff.
Ah, the sweet symphony of a crypto grift hitting the fan. Milei’s $LIBRA pump-and-dump scheme is just state-sanctioned Ponzi theater, proving even anarcho-capitalist messiahs can’t resist the siren song of digital snake oil. A president shilling shitcoins on Twitter? Peak late-stage capitalism.
The opposition’s faux outrage is equally laughable. Kirchner’s crew clutching pearls over crypto scams? Pot calling the kettle corrupt. This isn’t governance—it’s a circus where clowns pass legislation between meme posts.
The real tragedy? Citizens getting fleeced while the political class plays rug pull bingo. Democracy as a spectator sport, where voters choose between a dumpster fire and a tire fire. Milei’s “investigation” will vanish faster than that deleted tweet.
Crypto was supposed to be the revolution. Instead, it’s just another brick in the pyramid scheme of modernity.
It wasn’t supposed to be the revolution, it was sold like it was.
As a revolution, it relies on infinite applicability of Moore’s law to storage medium. In other words, it relies on infinite growth. It never left the square one.
Storage medium? What are you on about? You can prune blockchains and do things like demurrage to reduce bloat.
But either way it’s a weird critique. Bitcoin getting bigger makes it harder to sync clients but it’s not gonna consume all the worlds storage that doesn’t make sense.
Sold like it was? Crypto wasn’t hawked on late-night infomercials; it emerged from cypherpunk manifestos and whitepapers. It was the revolution—at least until greed and human nature dragged it into the mud. Dismissing it as a sales pitch is reductive and lazy.
Moore’s law? Storage medium? You’re just throwing tech buzzwords into a blender. Crypto’s scalability issues aren’t about transistor density or storage capacity—they’re about consensus mechanisms, energy efficiency, and adoption. Infinite growth isn’t intrinsic to crypto; it’s intrinsic to capitalism, which crypto ironically sought to escape.
And "never left square one"? That’s just willful ignorance. From smart contracts to decentralized finance, crypto has evolved. The problem isn’t stagnation—it’s co-optation. Your critique is as hollow as the systems you claim to deride.
Sonic the Hedgehog impersonator, Javier Milei, crashed Argentina’s rings (read coins) and is a robuttnick spy…
This particular pic makes me think it’s an ad for a new BBC Jane Austen or other classic period piece production. No, it’s current events.