Argentine President Javier Milei has disbanded the executive task force investigating the $LIBRA coin scandal just three months after its creation.
However, the case is far from over, with a federal judge intensifying a parallel judicial inquiry into possible financial misconduct, including insider trading and bribery, allegedly involving Milei’s inner circle.
Milei Shuts Down $LIBRA Coin Task Force, Findings Kept Secret
Earlier this week, President Javier Milei disbanded the Investigative Task Unit, which the government created to look into the $LIBRA token scandal.
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According to an official statement, the unit had completed its work and forwarded all relevant findings to the Public Prosecutor’s Office.
The government has not disclosed what information the Investigative Task Unit uncovered. When asked by local media, officials said the findings are classified and remain sealed from the public.
$LIBRA Coin Surged, Crashed, and Made Insiders Millions
The $LIBRA coin scandal erupted on Valentine’s Day when Milei promoted the coin on social media. His endorsement sent the token’s market cap soaring to $4.5 billion before it crashed by more than 97% within hours, dropping to just $14 million.
The sudden collapse allegedly allowed insiders close to Milei to make over $100 million in profits. In response to public outrage, Milei created a special executive task force to investigate the incident.
Critics Question the Sudden End to $LIBRA Coin Investigation
The executive decision sparked immediate backlash from lawmakers and critics. Opposition lawmaker Julia Strada called the the creation of an investigative task unit “a set”.
Skepticism continues to grow around the claim that the $LIBRA coin investigation was completed, particularly in a political climate rife with concerns over transparency and accountability.
Critics say the move further erodes public trust and shields Milei’s allies from deeper scrutiny.
Judiciary Presses Forward with $LIBRA Coin Scandal Probe
While the executive branch has closed its investigation, the judicial probe into the $LIBRA coin scandal remains active.
Federal Judge María Servini, who is leading the LIBRA case, has ordered banks to hand over financial records for President Javier Milei and his sister, Karina Milei. The investigation focuses on asset movements dating back to 2023, including any unusual financial activity.
Karina Milei is accused of accepting bribes in exchange for giving individuals access to the president, among them, Hayden Davis, believed to be a key architect of the $LIBRA scheme.
Blockchain analysts have also connected LIBRA insiders to other questionable crypto projects, such as MELANIA token, raising concerns about broader pump-and-dump operations in Argentina’s digital asset ecosystem.
Why This Matters
The $LIBRA coin scandal is more than a crypto controversy, it’s a test of institutional transparency and political accountability in Argentina.
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