THE GUARDIAN: Just as the industry is set to capitalize on country’s political and economic instability, president accused in $5m scheme
The Argentinian president, Javier Milei, is facing his lowest approval ratings since taking office in 2023 as newly published evidence allegedly reveals a $5m financial agreement connected to his public endorsement last year of a controversial crypto project.
The scandal has tarnished crypto’s reputation across Argentina and set back the ambitions of industry insiders who saw the country as fertile soil for the growth of digital money.
Milei’s promotion of crypto and the uproar over his alleged multimillion-dollar bribery come at a time when the economic reality for everyday Argentinians is grim. The libertarian president has introduced strict austerity measures to curb once-rampant inflation that triggered a recession and left many in poverty. The country is beginning to recover, but the once-rosy outlook of crypto’s enthusiastic promoters, including the president, clashes with the outlook on the ground. Regulators’ integration of crypto into the mainstream financial system has slowed in response. » | Adam Williams | Sunday, April 12, 2026
