What crypto scandal is Argentina's President Javier Milei involved in?

Argentina's President Javier Milei is at the center of a major crypto scandal involving a meme coin that was promoted as funding for small businesses. After his endorsement, the cryptocurrency's value collapsed dramatically, causing significant financial losses for investors who had put their money into the scheme. The scandal has escalated to serious political consequences, with Milei now facing impeachment calls and legal action on accusations of fraud. The controversy highlights the inherent volatility and risks associated with meme coins, which typically lack intrinsic value and are susceptible to market manipulation.