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.

A scandal in Argentina involving the cryptocurrency $LIBRA erupted after $99 million was withdrawn by wallets linked to its creator. President Javier Milei, initially endorsing the coin, denied ties as the coin's value surged then plummeted.