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

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.