Milei Dissolves LIBRA Scandal Task Force Amid Ongoing Investigations

Generated by AI AgentCoin World
Tuesday, May 20, 2025 12:26 pm ET1min read
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Argentine President Javier Milei has dissolved the Investigative

Task
Force (ITU) established to probe the aftermath of the LIBRA cryptocurrency scandal. The task force was officially disbanded through a decree signed by Milei and Justice Minister Mariano Cúneo Libarona on May 19. The decree stated that the task force had completed its mandate, despite opposition groups pushing for an investigative commission to be activated as early as May 20.

The ITU was created on February 19, just days after Milei promoted LIBRA on his official social media account. His endorsement briefly boosted LIBRA's value from nearly worthless to $5 per token, giving it a market capitalization of nearly $5 billion. However, the cryptocurrency quickly crashed to zero, raising allegations of insider trading and market manipulation. The scandal has significantly impacted Milei's credibility, with nearly 58% of Argentinians expressing a loss of trust in the president due to his involvement.

The dissolution of the ITU comes amidst ongoing investigations into Milei's role in promoting the Solana meme coin, LIBRA. The task force was responsible for gathering information and forwarding it to the Public Prosecutor’s Office. The decree indicates that the task force had fulfilled its duties, but the closure has sparked criticism and questions about the government's transparency and accountability in handling the scandal.

Despite the task force's dissolution, investigations into Milei's involvement in the LIBRA scandal are still ongoing. Both Argentine and international justice systems are advancing probes into the president's role, as well as that of his sister, Karine Milei, the Secretary General of the Presidency. The Argentine parliament has also established a commission to investigate the case, ensuring that the scrutiny continues despite the closure of the ITU.

The decision to shut down the task force does not signal the end of the LIBRA cryptocurrency scandal but rather a shift in the focus of the investigations. Other bodies are now taking the lead in uncovering the truth behind the scandal, with the potential for further legal ramifications for those involved. The dissolution of the ITU has raised concerns about the government's commitment to transparency and accountability in addressing the fallout from the LIBRA scandal.