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

A new cryptocurrency called $Libra bilked investors out of $250 million. It had been promoted by President Javier Milei.

A meme coin scandal and investigation have dented the popularity of Argentina's libertarian President Javier Milei and hindered his efforts to strengthen political alliances ahead of congressional midterm elections this year.

Now, Milei’s opponents are calling for his impeachment. The scandal has also ensnared Milei’s sister and General Secretary, Karina Milei—his closest advisor and gatekeeper. She first met with a crypto consultant at the Casa Rosada,