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.

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

A judge in Argentina has been selected to investigate allegations of fraud against President Javier Milei for his brief promotion of a cryptocurrency that collapsed in value hours after it was launched last week.

Argentine President Javier Milei is facing calls for impeachment after promoting a little-known cryptocurrency, whose price soared then collapsed after his endorsement, leading to losses for thousands of investors.

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

Argentinian president Javier Milei is facing calls for impeachment and a possible criminal investigation for his role in the rise and fast collapse of a memecoin.

In a television interview, Milei said the scandal was a "slap in the face", and he described himself as a "techno-optimist" who was just trying to "help fund Argentine projects". Lashing out at political opponents who had criticised him, he said that "every day they confirm how lowly politicians are".

The president of Argentina tweeted about a digital token called $LIBRA shortly before it collapsed. View on euronews

The budding scandal in Argentina has been dubbed locally as “cryptogate” and has links to a diverse cast of characters, including a high-profile U.S. influencer, a crypto developer who uses the pseudonym “Meow,” and a 28-year-old American entrepreneur who said he helped launch first lady Melania Trump’s meme coin last month.

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.