Argentine Congress Probes Milei's Role in Libra Token Scandal

The Argentine Congress has approved the establishment of a special committee to investigate the Libra token scandal, which has been linked to President Javier Milei. The decision, made on Tuesday, involves the creation of a special committee to probe the scandal, which has been ongoing since February. The investigative body will summon key government officials, including Minister of Economy Luis Caputo, Minister of Justice Mariano Cúneo Libarona, Chief of Cabinet Guillermo Francos, and Chairman of the National Securities Commission Roberto Silva, to participate in the probe.

Milei's endorsement of the Libra token led to a significant market cap of $4.5 billion, but the value plummeted nearly 90% within a few hours on February 14th and 15th. Following the crash, Milei deleted promotional tweets and claimed he was unaware of the project's details. Two days later, an Argentine criminal court filed fraud charges. The collapse resulted in about 75,000 wallet holders losing over $250 million. The Argentine Congress's investigation runs parallel to an ongoing judicial probe, which is examining Milei's possible connections to the Libra developers. In March, an Argentine lawyer called for the arrest of Kelsier Ventures CEO Hayden Davis for pitching Libra to Milei at a meeting in January.

This development marks a significant step in the ongoing controversy surrounding the cryptocurrency. The decision to create a commission to investigate the matter was backed by a vote from deputies, who will now delve into the cryptocurrency shared by President Javier Milei on social media. This move comes as part of a broader effort to scrutinize the potential links between Milei and the developers of Libra, a meme coin that has been at the center of a legal and political storm.

The investigation by the Argentine Congress runs parallel to an ongoing judicial probe that is examining the possible connections between Milei and the creators of Libra. The judicial inquiry, which began in March, aims to uncover any irregularities or wrongdoing related to the cryptocurrency. The dual investigations reflect the seriousness with which Argentine authorities are treating the scandal, which has raised questions about transparency and accountability in the country's political and financial systems.

Javier Milei, who has served as the President of Argentina since 2023, has been a central figure in the controversy. As an economist and politician, Milei's involvement in the Libra token scandal has drawn significant attention, both domestically and internationally. The investigation into his role in the scandal is expected to shed light on the extent of his involvement and the potential implications for his presidency.

The Libra token scandal has also attracted the attention of legal professionals, with a call for victims to come forward. This legal action underscores the far-reaching impact of the scandal, which has affected not only Argentine politics but also the broader cryptocurrency community. The investigation by the Argentine Congress is a crucial step in addressing the concerns raised by the scandal and ensuring that justice is served.