What happened with President Javier Milei's promotion of the Libra virtual coin?

President Javier Milei promoted the virtual Libra coin on social media platform X last Friday, claiming it would encourage economic growth by funding small businesses and startups. Following his endorsement, the price of Libra skyrocketed almost immediately. However, the situation quickly deteriorated when the coin's value began to drop. In response, Milei deleted his original post, but this action couldn't prevent the cryptocurrency from ultimately crashing. The incident has led to significant financial losses for investors and sparked accusations of fraud, with the president now potentially facing impeachment proceedings.