Argentine President Javier Milei is under fire after endorsing a cryptocurrency that experienced a dramatic price surge and subsequent collapse within hours, leaving investors with significant losses. The controversy has sparked calls for his impeachment and multiple legal complaints, including allegations of financial fraud.

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

Argentinian President Javier Milei mocked opposition efforts to impeach him amid accusations of fraud after a cryptocurrency he shared on social media crashed, inflicting big losses on those who bought in.