Argentina President Millie faces dismissal calls after strengthening the encrypted currency

CNN
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Argentine president Javier Miley He faces invitations to accountability after promoting an unknown cryptocurrency, whose price increased after his support, which led to losses for thousands of investors.

The news caused a big scandal in Argentina, with the opposition accused Millie of promoting the fraud, a claim that he denied the presidency.

I started with a tweet posted by the President for his X account, which includes more than 3.8 million followers. “This special project will be dedicated to encouraging the growth of the Argentine economy,” he wrote, with a link for the $ Cryptocurrency project.

Hours later, Millie deleted the message, and in another post, he said he had no relationships with the initiative. He said: “I was not aware of the details of the project and after I realized that, I decided not to continue to publish it.”

In response to CNN, the Milei team described the incident as a mistake. CNN contacted the National Securities Committee, which is the governing body of the capital market in Argentina, to determine whether it will take action.

On Saturday, the presidency announced an investigation of the matter, saying: “President Javier Millie decided to involve the Anti -Corruption Office immediately to determine whether there was inappropriate behavior by any member of the national government, including the president himself.”

Upward and down within hours

At the time of its launch, most of the cryptocurrency was held in a few digital portfolios, and the price was almost zero. After the position of president, its price rapidly rose to about 5 dollars, but in less than three hours it decreased to Cent, according to commercial request sites.

Pablo Sabt, an expert on encryption security issues, told CNN Milli a “smart contract”, a type of bank code, for the Solana Blwchin platform, which has become modern in recent months among investors who are betting on very flying assets.

“The first thing I saw is that the site was registered yesterday (Friday); (which) is a typical fraud. He also indicated that the distinctive symbol was created minutes before Milei published the message.

“Whales (senior asset holders) bought something in practice. Then the price flies and when it ends, they sell. It is known as the pump and discharge. This mechanic happened.”

He pointed out that he saw accounts that he bought at very low levels that obtain more than 4 million dollars in two hours, and one got up to 87 million dollars with sale.

The Argentine political opposition criticized the president, as the National Coalition Union announced on Saturday that it would move forward with the request to dismiss against Miley.

CNN has reached the presidency of the comment.

The numbers close to Miley rejected the possibility of dismissal, as Congo member Diego Santelli described such calls as an attempt to “overthrow” the president.

“The president has the freedom to express the issues he wants.”. I also compared his X to a presidential visit to a factory, saying that “it does not mean that he creates a hall for this place.”