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Politics
09 August 2025

Argentine President Faces Fallout Over Crypto Scandal

A public feud erupts as former Foreign Minister Diana Mondino questions President Javier Milei’s role in the $LIBRA cryptocurrency scandal, prompting a sharp response from the administration.

On Friday, August 8, 2025, Argentina’s political tensions reached a new peak as the fallout from the $LIBRA cryptocurrency scandal continued to dominate headlines. The controversy, which has embroiled President Javier Milei and several former cabinet members, took another turn when presidential spokesman Manuel Adorni publicly rebuked ex-Foreign Minister Diana Mondino for her biting remarks about Milei’s possible involvement in the crypto scam.

The latest uproar began earlier in August when Mondino, who was ousted from Milei’s administration in October 2024, appeared on Al Jazeera for a wide-ranging interview with journalist Mehdi Hasan. The conversation quickly zeroed in on the $LIBRA scandal—a million-dollar cryptocurrency debacle that Milei openly promoted on social media back in February. The scam, now under investigation in both the United States and Argentina, has cast a long shadow over the president’s reputation and raised uncomfortable questions about the administration’s judgment and integrity.

Pressed by Hasan about Milei’s role, Mondino didn’t mince words. “[Milei] should not have [posted] that,” she said, referring to the president’s public endorsement of the cryptocurrency. When asked why Milei would lend his support to such a scheme, Mondino speculated, “Someone probably told Milei about the cryptocurrency and he thought it was a good idea.” Then came the comment that ignited a political firestorm: “There are two possibilities. He is either not very smart, or he is corrupt in some way. You choose; I don’t know.” According to Al Jazeera, Mondino further clarified that while she hoped the president wasn’t corrupt, he would have to face the consequences if that were ever proven true.

Manuel Adorni, the president’s spokesman, wasted little time in mounting a defense. On Friday, Adorni described Mondino’s comments as “totally unfortunate,” suggesting that the former minister was either unprepared or simply having a bad day. “Maybe she found herself in an interview for which she wasn’t prepared,” Adorni remarked, as reported by local media. He went on to describe Mondino as “a smart person who clearly wasn’t having a good day, or wasn’t clear on what she was saying.” The implication was unmistakable: the administration sees Mondino’s criticisms as out of character and perhaps not worthy of serious consideration.

But the damage was already done. Mondino’s blunt assessment of the president’s decision-making—whether it was naiveté or something more sinister—struck a chord in a country already reeling from political and economic instability. The $LIBRA scandal itself has become a symbol of the hazards of unchecked enthusiasm for new financial technologies, especially when promoted by those in positions of power. With investigations ongoing in both Washington and Buenos Aires, the stakes for Milei and his government could hardly be higher.

The Al Jazeera interview didn’t stop at the crypto controversy. Hasan also pressed Mondino on other contentious issues, including Milei’s mental health and his radical proposals for deregulating Argentina’s human organs market. Citing Milei’s former economic advisor Carlos Rodríguez, who has publicly questioned the president’s mental stability, Hasan asked if Mondino shared those concerns. While Mondino didn’t offer a direct answer, she did say, “Rodríguez is always right,” a comment that many interpreted as a tacit endorsement of the advisor’s doubts.

Hasan further challenged Mondino with one of Milei’s most infamous metaphors, in which the president likened the state to “a pedophile” let loose in a kindergarten where children are “chained” and “covered in vaseline.” When Mondino began to explain her own views on government spending, Hasan cut in: “But how do you justify that attitude?” Mondino’s response was as pointed as it was personal: “Well, I’m not marrying him, so I don’t have to like him.” This quip, reported by Al Jazeera, seemed to encapsulate the ex-minister’s complicated relationship with her former boss—a mixture of professional distance and barely concealed exasperation.

For many Argentines, the spectacle of high-level officials trading barbs over national television is nothing new. But the $LIBRA scandal has injected a fresh sense of urgency into the political debate. The scandal, which saw thousands of ordinary investors lose money after Milei’s endorsement of the now-discredited cryptocurrency, has raised difficult questions about accountability and the responsibilities of public figures in the digital age. As investigations proceed on both sides of the equator, the Argentine public is left to wonder whether their leaders are capable of navigating the complex, often perilous world of modern finance.

The political implications are far-reaching. Mondino’s ouster from the administration last October was seen by some as a sign of Milei’s intolerance for dissent within his inner circle. Her willingness to speak out now—especially in such stark terms—has fueled speculation about deeper divisions within the ruling coalition. According to analysts cited by local news outlets, Mondino’s comments may embolden other critics, both inside and outside the government, to demand greater transparency and accountability from the president.

At the same time, Adorni’s efforts to downplay the controversy reflect a broader strategy by Milei’s team to contain the fallout and present a united front. By framing Mondino’s remarks as a momentary lapse rather than a substantive critique, the administration hopes to shift attention away from the scandal itself and back onto its policy agenda. Whether this approach will succeed remains to be seen, especially as new details about the $LIBRA investigation continue to emerge.

For now, the story remains a potent reminder of the challenges facing Argentina’s young democracy. With the world watching, the country’s leaders must grapple not only with the immediate crisis but also with the deeper issues of trust, competence, and integrity that it has brought to the fore. As the investigations unfold and the political drama intensifies, Argentines are left to hope that the truth—whatever it may be—will ultimately prevail.

The coming weeks promise more revelations, more heated exchanges, and, perhaps, a reckoning for those at the highest levels of power. For President Milei and his critics alike, the stakes could not be higher.