This article has been updated to add a statement from Argentina’s presidential office. Argentine President Javier Milei is facing calls for impeachment after endorsing a cryptocurrency project that collapsed in what analysts are calling a massive insider scam.

On February 14, Javier Milei posted a link to the Libra meme coin project on X, touting its dedication to “encouraging the growth of the Argentine economy.” Hours later, the Argentine President deleted the tweet and posted, “I was not aware of the details of the project and after having become aware of it I decided not to continue spreading it.”

Milei could face an impeachment trial in Congress, opposition lawmakers said, after he touted a cryptocurrency which crashed soon after.

Argentine President Javier Milei is facing withering criticism, including some calls for impeachment, after promoting a new cryptocurrency on his social media account.

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 ...