Javier Milei has emerged victorious in Argentina’s Senate despite being embroiled in a cryptocurrency scandal, solidifying his political agenda with a key electoral reform victory. Senators voted 43 in favor and 20 against, with six abstentions, to approve the cancellation of this year’s primary elections. The reform, which cancels the simultaneous primaries traditionally held months before the presidential and legislative polls, was a major win for the libertarian president, who argued that the multi-million-dollar cost of primaries was incompatible with his cost-cutting policies.
The approval of the reform marks a significant boost for Milei as he faces one of the toughest weeks of his presidency. His move to cancel the primaries denies fragmented opposition parties the chance to organize ahead of Argentina’s midterm elections in October, strengthening his position in the upcoming elections. The reform could give his government a strategic edge over its rivals.
The victory in the Senate comes amid a scandal involving a memecoin promotion that Milei shared on social media. The coin’s value surged before collapsing, triggering widespread accusations of fraud and prompting dozens of lawsuits against the president. Critics have even pledged to launch impeachment proceedings, citing his involvement in the controversial cryptocurrency venture. However, Milei has denied any wrongdoing, claiming he was unaware of the project’s details, despite meeting the people behind it twice.
On Thursday, Milei’s opponents in the Senate fell short of the required two-thirds majority needed to launch a formal investigation into his role in the memecoin crash. Despite the ongoing scandal, political analysts suggest the Senate win shows that Milei’s negotiating strength in Congress remains intact. “The government needs a win at the moment,” said Eugenia Mitchelstein, a politics professor at San Andrés University. “This demonstrates that the scandal hasn’t damaged their negotiating strength in congress, at least so far.”
Meanwhile, Milei’s approval rating has been largely unaffected by the scandal, according to recent polling. Although a majority of respondents believe he should be investigated over the memecoin incident, his support has only dipped slightly, down 1 percentage point to 48.4%, while his rejection rating has increased by 2 percentage points.
In a move aimed at bolstering his international stature, Milei arrived in Washington on Thursday to meet with Tesla CEO Elon Musk, who is advising US President Donald Trump on government efficiency. The Argentine president shared a video of the meeting, where he presented Musk with a chainsaw—symbolic of the cost-cutting agenda he’s pursuing in Argentina.
At the same time, senators failed to reach the necessary two-thirds majority to summon Milei’s sister, Karina, for questioning. She became involved in the scandal after reports emerged that she had met with the consultant who later introduced the president to the memecoin’s creators. Despite the mounting controversies, Milei’s focus remains on his political reforms and leadership.
As Milei faces the challenges of his presidency, his ability to secure major legislative wins, including this recent electoral reform, signals that his government still retains significant influence in Argentina’s political landscape.
