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.

Argentina's president faces his first major political crisis as the so-called cryptogate scandal shakes his credibility. The failed cryptocurrency endorsement has sparked a legal and political backlash.

Argentina’s Senate voted Thursday to scrap primary elections, delivering a major legislative victory to President Javier Milei just as he faces intense scrutiny over his role in a crypto rug pull that wiped $4.