President Milei ends investigation into Libra memecoin

Argentina’s government has disbanded the task force investigating the controversial Libra memecoin scandal, just three months after its creation. The unit, created by President Milei, investigated the memecoin that soared to $4.5 billion before crashing to $14 million.

The decree stated the task force had ‘fulfilled its purpose.’

Local lawmakers sharply criticised the decision, accusing the government of shielding those involved. Opposition figures labelled the task force a ‘front’ and suggested the closure was a move to protect suspects.

Meanwhile, the scandal continues to shake Argentina’s crypto scene.

Judge María Servini ordered banks to release financial records from 2023 for key suspects, including President Milei and his sister Karina. The investigation centres on allegations of bribery and illicit profit, involving several individuals connected to the Libra project.

Milei denies any wrongdoing amid mounting scrutiny.

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