Argentina’s main stock index fell 5.6% after a federal judge announced an investigation into a cryptocurrency scandal involving opposition politician Javier Milei. The judge is probing the sale of a crypto coin that rapidly plummeted in value, which was recommended by Milei. The coin launched on the same platform as another popular meme-inspired coin associated with former US President Donald Trump.
Milei, who continues to promote private projects, will face scrutiny over his involvement in the controversy. The investigation is part of a growing trend in Latin America where politicians are facing increased scrutiny over their financial dealings and investments.
Source: https://www.reuters.com/world/americas/argentina-main-stock-index-falls-after-milei-crypto-scandal-2025-02-17