Milei’s Win Focused on Cryptocurrency Sparks Hope Despite Ongoing Scandal Worries

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Milei’s Win Focused on Cryptocurrency Sparks Hope Despite Ongoing Scandal Worries

Bitget-RWA2025/10/27 13:54

By:Bitget-RWA

- Argentina's Javier Milei secured a midterm election landslide, expanding his party's congressional seats and reinforcing pro-crypto policies. - His victory follows economic progress (inflation dropped to 31.8%) but faces scrutiny over the LIBRA meme coin scandal, eroding public trust. - The win boosted investor confidence in Argentina's crypto market, with Goldman Sachs calling it a "strong performance" for governance stability. - While positioning Argentina as a crypto hub, the LIBRA fallout highlights

Javier Milei of Argentina, who brands himself as the "Crypto President," has achieved a decisive win in the 2025 midterm elections, further solidifying his party La Libertad Avanza's control in Congress and advancing his pro-cryptocurrency platform. Securing 40.68% of the national vote, Milei's party has tripled its seats in the lower chamber to 101 and increased its Senate representation to 20, as reported by

a CryptoNews report

. This overwhelming victory, especially in Buenos Aires province—a region long dominated by Peronists—has transformed Argentina's political scene, giving Milei more power to implement economic changes and expand his crypto-friendly policies, according to

a Blockchain Magazine piece

This success comes after a turbulent year for Milei, defined by both economic strides and the controversy surrounding the LIBRA

meme

coin. Since assuming office in December 2023, Milei has focused on deregulating markets, enforcing fiscal discipline, and encouraging crypto adoption, bringing inflation down from a staggering 290% to 31.8% by September 2025, according to CryptoNews. Nevertheless, his public support for the LIBRA token in February 2025—a meme coin that soared to a $4.6 billion valuation before collapsing—has sparked criticism. The project has since been tied to accusations of insider trading and investor losses, damaging public confidence, with 57.6% of Argentines now skeptical of Milei's leadership, as noted in

BeInCrypto coverage

Milei’s Win Focused on Cryptocurrency Sparks Hope Despite Ongoing Scandal Worries image 0

Despite these setbacks, Milei's midterm victory has restored optimism among investors. The peso strengthened in crypto exchanges after the election, and Goldman Sachs analysts described the outcome as a "very strong and conclusive performance" that enhances the government's stability, according to

a Bloomberg report

. Milei has portrayed the election results as an endorsement of his libertarian agenda, pledging to press on with reforms to "make Argentina great again" and to champion cryptocurrency as a means of financial empowerment, as reported by BeInCrypto.

Under Milei's leadership, Argentina has emerged as a leading crypto center in Latin America. His government authorized the use of

Bitcoin

in contracts starting December 2023, drawing blockchain companies and global investors, a development highlighted by Blockchain Magazine. However, the LIBRA controversy underscores the dangers of rapid crypto expansion. Parliamentary probes have uncovered questionable trades by Milei's associates, including advisors Mauricio Novelli and Manuel Terrones Godoy, who now face arrest warrants over evidence of pre-launch dealings, as detailed in

a Yahoo News article

. At the same time, U.S. courts have rejected attempts by creditors to claim LIBRA-related profits, citing a lack of evidence tying the state to the matter, according to

a Yahoo Finance report

The outcome of the midterms also reflects a wider regional move toward digital assets. As Argentina seeks to balance innovation with regulation, Milei's administration is under increasing pressure to ensure that crypto integration does not trigger another speculative frenzy, a concern raised by Blockchain Magazine. With the 2027 presidential race approaching, Milei's capacity to maintain economic stability and steer clear of further scandals will be crucial in determining whether Argentina's crypto experiment leads to lasting prosperity or renewed volatility.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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