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This summary text is fully AI-generated and may therefore contain errors or be incomplete.
This summary text is fully AI-generated and may therefore contain errors or be incomplete.
Javier Milei, an “anarcho-capitalist” and advocate for cryptocurrencies, has won Argentina’s presidential election with 56% of the vote. He has promised to dismantle the central bank, which he blames for the country’s high inflation rate. Milei’s victory has been commended by Charles Hoskinson, the founder of Cardano, who sees it as an opportunity for Argentina to lead in blockchain technology adoption. The Argentine population has shown a growing interest in digital currencies, particularly stablecoins pegged to the US dollar, due to the country’s unstable economy and rampant inflation. Argentina’s annual inflation rate exceeded 140% in October, making it one of the most financially unstable countries globally.