Argentina’s Milei Faces Calls for Impeachment Over Meme Coin Crash

The cryptocurrency’s value quickly plummeted after Argentine President Javier Milei withdrew his initial endorsement.
Argentina’s Milei Faces Calls for Impeachment Over Meme Coin Crash
Argentina's President Javier Milei leaves the Casa Rosada presidential palace in Buenos Aires on Feb. 17, 2025. Luis Robayo/AFP via Getty Images
Bill Pan
Bill Pan
Reporter
|Updated:

Argentine President Javier Milei is facing calls for impeachment after promoting a cryptocurrency that saw its market value soar before collapsing in a matter of hours.

Esteban Paulón, a congressman from the opposition Socialist Party, said in a statement posted to social media platform X that he and two other lawmakers from progressive opposition parties had submitted a formal request to Argentina’s lower house to impeach the president under Article 53 of Argentina’s Constitution.