Milei Shuts Down Probe Into $LIBRA Meltdown
The post Milei Shuts Down Probe Into $LIBRA Meltdown appeared on BitcoinEthereumNews.com. Key Takeaways: Argentina’s President Milei shuts down investigation unit probing $LIBRA crypto crash, despite no public findings. $LIBRA, a memecoin endorsed by Milei, collapsed 90% within hours, causing at least $250 million in investor losses. Critics allege the shutdown is an attempt to shield Milei from growing legal and congressional scrutiny. President Javier Milei’s controversial decision to dissolve a special unit investigating the $LIBRA cryptocurrency scandal has raised alarm over transparency and accountability in Argentina’s crypto market. The probe’s shutdown comes just months after Milei publicly promoted the coin, which later crashed and left retail investors with massive losses. Read More: Amid Increasing Crypto Scandal, Argentina Starts Official Investigation Into $LIBRA Memecoin Crash $LIBRA Promotion Followed by Collapse The $LIBRA token made headlines after its explosive debut on February 14, 2025. Promoted directly by Milei via social media as a “private project” to stimulate the Argentine economy, the memecoin surged in value following his endorsement. Within hours, however, the token plummeted by nearly 90%, wiping out millions. Despite the dramatic collapse, more than $4.5 billion had reportedly moved through $LIBRA during its peak. Estimates suggest that investors—many of them retail traders—lost at least $250 million in the fallout. Blockchain analysts later called the event a classic rug pull, a scheme where developers exit after a token’s price peaks, leaving buyers with worthless holdings. Read More: Argentina’s Stablecoin Boom After Government Suggestion of Abandoning Currency Controls Milei Dissolves Investigative Unit Just five days after the crash, Milei established the Investigative Task Unit (UTI) under the Ministry of Justice. The unit was tasked with examining any misconduct, coordinating with national regulators, and submitting evidence to the judiciary. On May 20, however, Milei abruptly signed Decree 332/2025, co-signed by Justice Minister Mariano Cúneo Libarona, dissolving the unit. The decree stated the UTI had…
The post Milei Shuts Down Probe Into $LIBRA Meltdown appeared on BitcoinEthereumNews.com.
Key Takeaways: Argentina’s President Milei shuts down investigation unit probing $LIBRA crypto crash, despite no public findings. $LIBRA, a memecoin endorsed by Milei, collapsed 90% within hours, causing at least $250 million in investor losses. Critics allege the shutdown is an attempt to shield Milei from growing legal and congressional scrutiny. President Javier Milei’s controversial decision to dissolve a special unit investigating the $LIBRA cryptocurrency scandal has raised alarm over transparency and accountability in Argentina’s crypto market. The probe’s shutdown comes just months after Milei publicly promoted the coin, which later crashed and left retail investors with massive losses. Read More: Amid Increasing Crypto Scandal, Argentina Starts Official Investigation Into $LIBRA Memecoin Crash $LIBRA Promotion Followed by Collapse The $LIBRA token made headlines after its explosive debut on February 14, 2025. Promoted directly by Milei via social media as a “private project” to stimulate the Argentine economy, the memecoin surged in value following his endorsement. Within hours, however, the token plummeted by nearly 90%, wiping out millions. Despite the dramatic collapse, more than $4.5 billion had reportedly moved through $LIBRA during its peak. Estimates suggest that investors—many of them retail traders—lost at least $250 million in the fallout. Blockchain analysts later called the event a classic rug pull, a scheme where developers exit after a token’s price peaks, leaving buyers with worthless holdings. Read More: Argentina’s Stablecoin Boom After Government Suggestion of Abandoning Currency Controls Milei Dissolves Investigative Unit Just five days after the crash, Milei established the Investigative Task Unit (UTI) under the Ministry of Justice. The unit was tasked with examining any misconduct, coordinating with national regulators, and submitting evidence to the judiciary. On May 20, however, Milei abruptly signed Decree 332/2025, co-signed by Justice Minister Mariano Cúneo Libarona, dissolving the unit. The decree stated the UTI had…
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