A cryptocurrency that briefly surged on Argentine President Javier Milei's support before crashing is the latest in a series of politically endorsed meme coins facing a backlash.

President Javier Milei addressed the growing controversy surrounding his involvement with the Libra memecoin. The token surged in value before crashing, triggering investor losses, lawsuits, and calls for his impeachment.

Around $99 million worth of cryptocurrency was withdrawn from the marketplace of a coin at the centre of a scandal in Argentina by eight digital wallets linked to the crypto token's creator, blockchain researchers said.

Argentina’s financial landscape has been shaken by a growing scandal involving the sudden collapse of the $LIBRA cryptocurrency. This all began in February 2025 when the Argentine president, Javier Milei,

The Argentine president is scheduled to meet with the head of the IMF to secure more funding, and hopes to meet with Donald Trump at the Conservative Political Action Conference