#MileiMemeCoinControversy Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email [email protected] to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found here.

https://www.ft.com/content/27bcc19e-d422-4fac-ac08-5b76c1095e52

Argentina’s libertarian president Javier Milei has been buffeted by a scandal over his promotion of a memecoin that soared in value before collapsing, triggering impeachment calls and lawsuits. Milei promoted a cryptocurrency called $LIBRA on X on Friday night, which had begun trading minutes earlier. Its value quickly soared above $4 before falling below 50 cents.