Argentine President Javier Milei’s party has scored a resounding victory in Argentina’s 2025 mid-term legislative elections, taking control in key provinces.
This sweeping parliamentary win boosts Milei’s grip on Congress and provides greater political leverage. However, as the LIBRA cryptocurrency scandal deepens, the President’s credibility continues to face new uncertainty.
President Milei’s Party Wins in Argentina’s 2025 Midterms
Argentina’s 2025 midterms marked a turning point for President Javier Milei, whose La Libertad Avanza (LLA) party secured nearly 41% of the national vote, even breaking Peronist dominance in Buenos Aires. According to local media reports, national turnout was 68%, and LLA swept 16 districts—including Mendoza, Córdoba, and Santa Fe.
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The Peronist alliance (Fuerza Patria) came second with 31.6%, showing a significant loss of support. Meanwhile, Provincias Unidas lagged behind at 7.1%.
Milei’s bloc increased its seats in both chambers, now holding 101 out of 257 deputies and growing its power in the Senate. The result strengthens Milei’s hand in Congress for the remaining two years of his term, giving new momentum to his tax, labor, and pension reform agenda ahead of the 2027 presidential race.
The LIBRA Crypto Scandal: Milei’s Growing Challenge
Despite the political victory, Milei’s involvement in the LIBRA crypto controversy has drawn renewed scrutiny. BeInCrypto reported that Milei publicly backed the LIBRA meme coin on social media in February, sparking a surge that pushed its market cap above $4 billion.
When insiders sold, LIBRA’s value crashed, causing massive investor losses. However, the President distanced himself from the project and denied any involvement.
Following the controversy, trust eroded quickly. A Zuban Córdoba survey after the crash found 57.6% of Argentinians lacked confidence in Milei’s leadership, with just 36% still backing him. Furthermore, criminal and congressional investigations began into Milei and LIBRA promoters.
In October, an Argentine prosecutor ordered a forensic search of Milei’s and his advisors’ phones to determine their involvement in the LIBRA crypto controversy.
Notably, in the US, Judge Jennifer Rochon ruled against international investment funds hoping to tie LIBRA wallets to the state. Instead, she noted that Milei, Karina Milei, and promoter Hayden Mark Davis most likely control these assets.
Last week, a plaintiff in Argentina’s criminal case urged the court to detain two of Milei’s aides involved in the February token launch, further tightening legal scrutiny of the president’s inner circle.
As investigations continue, Milei faces a defining test: whether his administration’s political success can withstand the growing storm surrounding his alleged ties to the crypto space.
Source: https://beincrypto.com/argentina-2025-midterms-milei-libra-scandal/
