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.

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

The controversy has turned what was once a promising regulatory path into political quicksand, leaving Argentina’s crypto landscape in turmoil. The promise of crypto regulation in Argentina, once fueled by the rise of pro-crypto president Javier Milei in late 2023,

A judge in Argentina has been selected to investigate allegations of fraud against President Javier Milei for his brief promotion of a cryptocurrency that collapsed in value hours after it was launched last week.

Argentina’s president Javier Milei literally wiped out the meme coin market in just five hours today, and might have incinerated his reputation along with it.

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,

Argentina's ex-president, Cristina Fernández de Kirchner, branded Milei a "crypto scammer" on social media and accused him of turning “Argentina into a casino.”

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.

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