Argentine President Javier Milei has been on the defensive after a cryptocurrency he endorsed on X saw its value crash, triggering fraud allegations and calls for impeachment by his political foes.

       The scandal is hitting the libertarian leader ahead of his trip Thursday to Washington to meet with Trump administration officials to win support for his economic reforms, including approval for an International Monetary Fund loan. A darling of the global conservative movement and ally of President Trump, Milei has described the fallout as “a slap in the face" against him and asserted he hadn’t championed the cryptocurrency.

       Unlock Premium Insights from The Wall Street Journal

       Take your experience further with Mint Premium- access insights and analysis on global markets

       Subscribe now Already subscribed? Login

       Premium benefits

       30+ articles from print edition and premium publication daily

       Present across social media apps to keep you updated

       In-depth Market Reports from leading experts

       Most loved Mint podcasts on 35+ topics

       Sharp insights supported by simple data and visuals

       Unlock 30+ well researched

       and bias free premium articles daily

       Access to global insights with

       100+ exclusive articles from

       international publications

       Get complimentary access to

       3+ investment based apps

       TRENDLYNE Get One Month GuruQ plan at Rs 1

       FINOLOGY Free finology subscription for 1 month.

       SMALLCASE 20% off on all smallcases

       5+ subscriber only newsletters

       specially curated by the experts

       Free access to e-paper and

       WhatsApp updates

       Not convinced yet?

       Share your contact details and

       we will get in touch with you…

       = 48 && event.charCode Confirm

       Thanks for sharing your number