Argentine lawyers filed fraud charges against President Javier Milei in criminal court for promoting a cryptocurrency on his social media, one of the lawyers told The Associated Press.

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.

Milei could face an impeachment trial in Congress, opposition lawmakers said, after he touted a cryptocurrency which crashed soon after.

An ally of Trump and darling of the global right, Javier Milei tries to deflect critics after a cryptocurrency he endorsed collapsed, wiping out $4 billion in value.

Milei later deleted his X post recommending the little-known crypto coin $LIBRA and said he had no relation to the cryptocurrency, but opposition lawmakers have said Milei could face an impeachment trial in Congress.

Argentina President Javier Milei is facing withering criticism, including some calls for impeachment, after promoting a new cryptocurrency on his social media account.