Argentina's president, Javier Milei, is facing a political firestorm and accusations of involvement in a memecoin collapse that wiped out $4.6 billion in market value. While in Washington, D.C., for scheduled meetings, Milei is attempting to shift the focus back to his economic agenda and secure an International Monetary Fund (IMF) deal. The controversy surrounding his endorsement of the $LIBRA cryptocurrency and allegations of payments to his sister has caused a drop in the Buenos Aires stock index and put pressure on the country's already fragile peso. Milei's economic team is also facing scrutiny from the IMF regarding their handling of the peso's exchange rate. Meanwhile, he plans to meet with Elon Musk and deliver a speech at the Conservative Political Action Conference (CPAC) to build support and distance himself from the crypto scandal. The crypto community is divided over the issue, with some expressing continued belief in Bitcoin and Ethereum and suggestions for Argentina to host a major Ethereum conference.



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