Legal Action Against President Javier Milei Over LIBRA Scandal

The lead prosecutor investigating Argentine President Javier Milei‘s alleged involvement in a scandal related to LIBRA has requested the freezing of assets associated with the case.

Eduardo Taiano is seeking to recover deleted social media posts, including a tweet from Milei promoting a Solana-based meme token. He also asked for detailed records of LIBRA transactions.

In a post on X, Milei had touted LIBRA as a way to help Argentina’s economy by funding small businesses and startups, asserting that “the world wants to invest in Argentina.”

Initially, LIBRA’s value surged to a market cap of approximately $4.5 billion, but it soon collapsed, leading some to suspect a pump-and-dump scheme. After its downfall, Milei deleted his promotional tweet, and fraud charges were filed against him.

Before LIBRA’s collapse, a small number of wallets holding significant token supplies cashed out, with crypto entrepreneur Hayden Davis admitting to obtaining $100 million from the project.

Taiano has requested assistance from international exchanges, law enforcement, and regulators to freeze the involved funds, as reported by Argentine daily Clarín.

Decrypt reached out to Argentina’s public prosecutions office for additional comments.

President Milei has garnered support from right-leaning voters and Bitcoin enthusiasts due to his libertarian views and measures that have slashed government spending and addressed high inflation in Argentina. However, he has rarely discussed Bitcoin and faced lawsuits in 2022 for promoting another crypto platform, CoinX, which allegedly made false promises of massive returns.

Recent headlines also feature meme coins and tokens after U.S. President Trump and his wife Melania launched their own digital tokens prior to his inauguration. The Solana-based TRUMP and MELANIA tokens saw significant fluctuations in value throughout this period.