Argentine President Javier Milei's brief social media endorsement of the Libra memecoin turned sour as an estimated 86% of traders that took stake in the cryptocurrency lost a combined $251M in a swift crash,

A new report cites text messages that appear to show the crypto mogul bragging about exerting some sort of control over the Argentinian leader.

Argentina’s President Javier Milei has found himself at the center of a cryptocurrency scandal after a token he promoted, Libra, led to massive losses for retail traders. Research firm Nansen estimates that 86% of those who invested in the memecoin lost money,