Argentina’s libertarian president, Javier Milei, posted a link on X/Twitter to promote $Libra, a new cryptocurrency that, in his words, would “promote economic growth in Argentina and fund small business and entrepreneurship in Argentina.

Argentine President Javier Milei's brief social media endorsement of the Libra memecoin turned sour as an estimated 86% of traders that took stake in the cryptocurrency lost a combined $251M in a swift crash.

Critics have accused Milei of involvement in the rapid rise and fall of a cryptocurrency, costing investors thousands.

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.

Argentine lawyers filed fraud complaints against President Javier Milei in criminal court on Sunday for promoting a cryptocurrency on his social media, one of the lawyers told The Associated Press.

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.

Argentinian president Javier Milei is facing calls for impeachment and a possible criminal investigation for his role in the rise and fast collapse of a memecoin.

Milei’s memecoin foray has led to a flood of finger-pointing over who was responsible for the cryptocurrency’s crash.

In a television interview, Milei said the scandal was a "slap in the face", and he described himself as a "techno-optimist" who was just trying to "help fund Argentine projects". Lashing out at political opponents who had criticised him, he said that "every day they confirm how lowly politicians are".

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 ...