Argentina's president faces his first major political crisis as the so-called "cryptogate" scandal shakes his credibility. What's come to be known as the "cryptogate" scandal is gripping Argentina, with the rapid rise and collapse of the$ LIBRA cryptocurrency at the center of controversy.

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 calls for impeachment after promoting a little-known cryptocurrency, whose price soared then collapsed after his endorsement, leading to losses for thousands of investors.