What happened in the crypto scandal involving President Milei and what were the consequences?

President Milei initially endorsed a cryptocurrency but later backtracked, deleting his social media post and denying any connection to the coin after its value crashed. This scandal prompted serious political repercussions, with opposition members of Congress announcing plans to initiate impeachment proceedings against him. Beyond political consequences, the scandal also triggered legal actions, with lawyers filing fraud complaints in Argentina's criminal court. When confronted with the growing controversy, Milei attempted to distance himself from the role the state played in the scandal, but the damage to investors and his credibility had already occurred.