Argentine President Javier Milei shared a link on X promoting a cryptocurrency called $LIBRA. The project, he claimed, will help "foster

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,

An estimated 86% of crypto traders that took positions in a memecoin endorsed by Argentine President Javier Milei on Friday ended up losing money, according to research firm Nansen.

The Argentinian president faces impeachment charges for endorsing a crypto rug pull, via the same network that apparently launched Melania Trump’s memecoin.

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.

Argentine President Javier Milei faces a fraud investigation after promoting a cryptocurrency that collapsed within hours, vaporizing billions in value.

The "LIBRA" memecoin scandal centers around allegations that President Javier Milei promoted a cryptocurrency that rapidly gained value and then collapsed, leading to significant investor