Argentine President Javier Milei faces a fraud investigation after promoting a cryptocurrency that collapsed within hours, vaporizing billions in value.

Argentine President Javier Milei is facing a corruption probe into his promotion of a meme coin, which is a highly speculative form of cryptocurrency that’s seen a recent surge in popularity after President Donald Trump and his wife launched tokens of their own.

Argentine President Javier Milei shared a link on X promoting a cryptocurrency called $LIBRA. The project, he claimed, will help "foster the growth of the Argentine economy by funding small companies and ventures.

Argentine President Javier Milei is facing impeachment calls after he promoted a little known cryptocurrency libra, which soared and soon plunged. However, it is unlikely to upend Milei’s presidency,

Here’s what happened: Late Friday night, Milei fired off a tweet lending his support to a cryptocurrency token called $LIBRA. Milei described the coin to his nearly four million followers as a “private project dedicated to encouraging the growth of the Argentine economy,” claiming that it would be “funding small Argentine businesses and ventures.”

On February 15th Mr Davis called himself “Javier Milei’s adviser” and said that he was “working with him and his team”. Mr Milei’s office has said the government has no connection to Mr Davis. This was not Mr Milei’s first brush with crypto controversy.

The "LIBRA" memecoin scandal centers around allegations that President Javier Milei promoted a cryptocurrency that rapidly gained value and then collapsed, leading to significant investor

A new report cites text messages that appear to show the crypto mogul bragging about exerting some sort of control over the Argentinian leader.