this post was submitted on 18 Feb 2025
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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.

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[–] meowmeowbeanz@sh.itjust.works 23 points 4 days ago (5 children)

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.

[–] Slotos@feddit.nl 4 points 4 days ago (4 children)

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.

[–] auraithx@lemmy.dbzer0.com 1 points 3 days ago

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.

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