$LIBRA cryptocurrency, endorsed by President Javier Milei, experienced a spike in price followed by a crash, resulting in investors losing around $250 million.
Milei is accused of market manipulation and deceiving investors, leading to allegations of a "rug pull" scam.
Opposition parties in Argentina are calling for an investigation and potential impeachment proceedings against Milei.
The scandal raises concerns about financial regulation and the handling of cryptocurrencies in Argentina.