LIBRA Memecoin Fallout Fuels Growing Discontent with Argentina President

Javier Milei's presidency is under intense scrutiny as public trust in him plummets, largely due to his involvement in the LIBRA memecoin collapse.

A recent survey found that nearly 58% of Argentinians have lost confidence in him, signaling growing frustration with his leadership.

Milei initially endorsed LIBRA, a memecoin that briefly surged to a $4 billion market cap before crashing by over 99%, erasing investors’ funds.

While he claims he had no ill intent, blockchain analysts uncovered suspicious insider activity, with major holders offloading over $100 million shortly after his endorsement.

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Authorities are now investigating, seizing assets linked to the project, and seeking an Interpol Red Notice for Hayden Davis, a suspected key player in the scheme.

Beyond this scandal, Milei’s overall approval has been slipping, with economic struggles and rising crime fueling discontent.

Many Argentinians reject further IMF loans, doubting the administration’s financial strategies, while urban residents report worsening security conditions. Analysts warn that if his approval falls below 40%, his ability to govern could be at risk.

Alexander Stefanov