Argentinian president Javier Milei is facing calls for impeachment and a possible criminal investigation for his role in the rise and fast collapse of a memecoin.

Here’s what happened: Late Friday night, Milei fired off a tweet lending his support to a cryptocurrency token called $LIBRA. Milei described the coin to his nearly four million followers as a “private project dedicated to encouraging the growth of the Argentine economy,” claiming that it would be “funding small Argentine businesses and ventures.”