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.

Critics have accused Milei of involvement in the rapid rise and fall of a cryptocurrency, costing investors thousands.

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,