Argentine President Milei arrives in US amid fallout from LIBRA scandal

Argentine President Javier Milei arrived in the United States on Feb. 20 for a trip of diplomacy and deal-making, and perhaps seeking a rebound from the unfolding LIBRA memecoin scandal that threatens his administration.According to Bloomberg, his itinerary includes a meeting with supporter Elon Musk and a session with Kristalina Georgieva, the chief of the International Monetary Fund. Milei will also speak at the Conservative Political Action Conference, a Trump-friendly event.The trip may serve to reshape the image and narrative surrounding Milei, both of which have taken hits following the memecoin scandal that local Argentine publications have dubbed “Cryptogate.” On Feb. 14, Milei shared the contract address for the now infamous LIBRA memecoin on his X account, claiming the token was dedicated to “encourage the growth of the Argentine economy.” The team behind the token is accused of rug-pulling it within hours, costing investors around $251 million.Milei and his team have attempted to distance themselves from the token and its creators, having the president sit down for an interview that aired on Feb. 17 in Argentina. On Feb. 18, a report from La Nación, an Argentine publication, revealed text messages from Hayden Davis, the co-creator of LIBRA, claiming he bought influence over Milei by bribing the president’s sister, Karina Milei. Argentine lawyers have hit President Milei with fraud charges over LIBRA, while some are calling for his impeachment.However, Milei’s trip to the United States may be a chance to right, or at least provide reprieve, from the narrative. On Feb. 17, US President Trump made a post on Truth Social with a picture of Milei and a quote from the Argentine president: “If printing money would end poverty, printing diplomas would end stupidity.”Related: The Milei ‘Libragate’ debacle took months to develop, days to unfoldAccording to Clarin, a newspaper in Argentina, new polls show that many citizens of the South American nation believe that Milei is responsible for investors’ losses and that his X post sharing the memecoin was not a mistake. The data reveals that while Argentines want a thorough investigation into the matter, only a minority want him impeached. Almost no one polled had changed their positions regarding the 2025 legislative elections in the country.Argentine economist Carlos Melconian said Argentinians’ loss of confidence in the president’s words may be the worst consequence of the LIBRA scandal, as confidence is fundamental for the success of any economic program.