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Fortune

Marco Quiroz-Gutierrez

Argentina's crypto token plummets after historic World Cup upset

Argentina World Cup Crypto Lionel Messi Saudi Arabia Socioscom Chiliz

Lionel Messi and Argentina blew a 1-0 lead against Saudi Arabia, which won 2-1 in one of the World Cup's most shocking upsets. (Credit: Richard Sellers—Getty Images)

Argentina’s World Cup loss to Saudi Arabia on Tuesday has players, fans, and now crypto investors reeling, as the token sponsored by the Argentine Football Association fell more than 20% in the aftermath.

After a shocking 2-1 loss for Argentina's national team, led by superstar Lionel Messi, the $ARG token plummeted about 20% to $5.39 on Tuesday morning, according to CoinMarketCap. When the token was created in May 2021, it sold for about $4.30.

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