Analysis-Argentina meme coin scandal dents Milei's hunt for election allies


FILE PHOTO: People sit in a restaurant as Argentina's President Javier Milei is seen on television during an interview, in Buenos Aires, Argentina, February 17, 2025. REUTERS/Pedro Lazaro Fernandez/File Photo

BUENOS AIRES (Reuters) - 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.

The brash former economist won a shock election in 2023 with pledges to take a "chainsaw" to public spending - and recently gifted a real one to billionaire Elon Musk. Milei stirred controversy when he posted this month on X in support of a new token, Libra.

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