US Treasury Secretary Scott Bessent increased funding up to $40 billion to Javier Milei's government, double the previous pledge. Argentina is already $60 billion in debt and has a history of currency devaluation; in addition, President Javier Milei further devalued his country's currency, sold off its assets, and fronted for three massive meme-coin rug pulls. Originally, the US pledged $20 billion, but US Treasury Secretary Scott Bessent, who is a former Soros hedge fund manager, advocated for an additional $20 billion to backstop a private fund of private investors that bought Argentinian debt. When Argentina defaults, the US will reimburse the private bankers for the second $20 billion. 

Reports indicate that hedge fund billionaire Rob Citrone, a personal friend of Bessent, made the Treasury Secretary wealthy in the past when they both worked for George Soros. Citrone used his Discovery Capital fund and bet heavily on Argentina, purchasing Argentine debt and equity. Argentina's economy crashed and Citrone pressed his former colleague to use US taxpayer money to cover the loss.

Soybean farmers are angry with Trump's tariffs as China stopped buying soybeans from the US, damaging US farmers. China is now buying soybeans from Argentina. Trump has now proposed buying beef from Argentina, but this will negatively affect cattle ranchers in the US.

America First supporters and taxpayers are disappointed.

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Mike McKee of Bloomberg News spilled the beans and said that a lot of US hedge fund managers are friends with Scott Bessent bought up Argentine debt "on the cheap" anticipating a turn around in Argentina's economy. The Trump bailout is an attempt to make them whole. McKee said, "The problem with that of course is that would be kind of illegal and it certainly would reflect very badly on the administration. So it's kind of hard to believe that either."