A judge in Argentina has been selected to investigate allegations of fraud against President Javier Milei for his brief promotion of a cryptocurrency that collapsed in value hours after it was launched last week.

Argentine President Javier Milei is facing impeachment calls after he promoted a little known cryptocurrency libra, which soared and soon plunged. However, it is unlikely to upend Milei’s presidency,

Argentina's presidential spokesperson Manuel Adorni said on Tuesday that it was "insulting" to speculate that bribes where involved in the case of libertarian President Javier Milei promoting a cryptocurrency that rapidly slumped.