Milei's Crypto Scandal Threatens Argentine President's Power
A meme coin scandal and investigation have dented the popularity of Argentina's libertarian President Javier Milei and hindered his efforts to strengthen political alliances ahead of congressional midterm elections this year. Critics cry "rug pull" scam, government says president was duped; One poll shows surge in negative perceptions of president. The brash former economist won a shock election in 2023 with pledges to take a "chainsaw" to public spending.
- Milei's scandal may be an early test of his ability to recover from crises and maintain public trust, a crucial skill for any leader seeking re-election.
- Will the opposition's splintering further create new opportunities for Milei to pivot and rebrand himself as a unifying force in Argentine politics?