The Argentine Senate voted to cancel primary elections, granting President Javier Milei a significant legislative win amidst controversy surrounding his involvement in a cryptocurrency rug pull that caused a $4.6 billion market loss. Milei faced accusations of participating in a pump-and-dump scheme after a meme coin he shared crashed in value. Opposition lawmakers filed fraud lawsuits and called for an investigation. Milei denies any wrongdoing, stating that he did not endorse the coin and deleted the post once he realized his lack of knowledge about the project. The Anti-Corruption Office will investigate potential ethical violations. Despite the scandal, Milei's allies in Congress have supported him, as evidenced by a failed attempt to launch a probe into his involvement. Milei traveled to Washington and met with Tesla CEO Elon Musk. The upcoming midterm elections will determine the composition of Congress, and Milei's political future remains uncertain. Investors are concerned about the government's ability to survive additional shocks, as Argentina's history has seen economic crises tied to elections. The $LIBRA scandal continues to impact public confidence in Milei's leadership.



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