Argentine President Javier Milei is facing calls for impeachment after promoting a little-known cryptocurrency, whose price soared then collapsed after his endorsement, leading to losses for thousands of investors.

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 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,

President Javier Milei posted on X recommending the little-known crypto coin $LIBRE, which soon after shot up to nearly $5 apiece. Hours later, it plummeted to under $1.

Argentina's president faces his first major political crisis as the so-called "cryptogate" scandal shakes his credibility. The failed cryptocurrency endorsement sparks legal trouble, political fallout and media backlash.