Argentina’s President Javier Milei Shuts Down $LIBRA Memecoin Scandal Investigation

• Milei dissolved $LIBRA probe unit despite no public findings, sparking outcry over opacity.
• $LIBRA crash cost investors $250M after Milei’s promotion, prompting legal investigations.
• Critics say UTI shutdown aims to shield Milei amid judicial and congressional scrutiny.

President Javier Milei has abruptly shut down a government unit investigating his administration’s ties to the $LIBRA cryptocurrency scandal, raising new concerns about transparency and political accountability in Argentina. 

The special unit, formed just three months ago, was tasked with examining fraud and misconduct allegations linked to the memecoin’s rapid rise and crash, which left retail investors with an estimated $250 million in losses. 

Milei, who had personally promoted the coin on social media, now claims the unit completed its objectives. However, critics argue the move appears premature and politically motivated, as no public findings have been released.

Scandal That Shook Argentina’s Crypto Sector

The Investigative Task Unit (UTI) was formed on February 19, just days after the $LIBRA token was launched on February 14. At the time, President Milei promoted the co…

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