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 President Donald Trump and his wife launched tokens of their own.

Argentine President Javier Milei faces his first major political crisis as the so-called cryptogate scandal shakes his credibility. The failed cryptocurrency endorsement has sparked a legal and political backlash.

Argentina's ex-president, Cristina Fernández de Kirchner, branded Milei a "crypto scammer" on social media and accused him of turning “Argentina into a casino.”