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,

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

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.

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 defends $LIBRA by emphasizing he shared, not promoted, the token, amid claims of minimal impact on Argentine investors.

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 Pre

Argentina's president faces his first major political crisis as the so-called "cryptogate" scandal shakes his credibility. The failed cryptocurrency endorsement sparks legal trouble, political fallout and media backlash.