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Javier Milei’s crypto-friendly party wins Argentine midterm

Javier Milei’s party, La Libertad Avanza, has won the Argentine midterm elections, securing 40.68% of votes and positioning him as a leading contender for the 2027 presidential elections. This victory marks a significant shift from the previous provincial elections where Milei's party suffered a loss to the Peronist party. Despite this win, the Peronist party retains a congressional majority. Milei, a former economist, has championed free-market policies and has focused on reducing inflation and state intervention. His approach to cryptocurrency policy, although notable, has been marred by the LIBRA token scandal, in which allegations of insider trading surfaced after Milei's promotion of the token led to a significant market crash. Amid a decline in public trust, recent polling indicates that 63.2% of Argentines view Milei negatively, a notable increase since earlier in the year. Nevertheless, his recent electoral success places him back in the spotlight for the upcoming presidential elections.

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