Recent Developments in the Cryptocurrency Market

Last week, the cryptocurrency market was in the spotlight due to the Solana (SOL)-based memecoin LIBRA, which has been alleged to be a scam.

Investigation by US Department of Justice

The LIBRA debate intensified with support from Argentine President Javier Milei, prompting the US Department of Justice (DOJ) to take action regarding LIBRA.

According to local Argentine media, Lanacion, the DOJ has initiated an investigation into the LIBRA token.

Key Figures Under Investigation

The DOJ is examining the involvement of several prominent figures in the crypto sector, including:
– President Javier Milei
– Uniswap CEO Hayden Adams
– KIP Protocol co-founder Julian Peh

The investigation aims to determine if LIBRA operates as a fraudulent project. Sources indicate that this investigation is still in its early stages and has been confirmed.

Involvement of Other Agencies

Reports suggest that the Federal Bureau of Investigation (FBI), the Department of Homeland Security (DHS), and the Securities and Exchange Commission (SEC) may also participate in the LIBRA investigation initiated by the DOJ.

Background on the Investigation

The inquiry follows a criminal complaint filed by an Argentinian law firm with US authorities against those responsible for LIBRA’s collapse. Additionally, the Argentine Senate has requested the current administration to compile a report on President Milei’s connections to LIBRA.

LIBRA was heavily promoted on social media by Milei, which led thousands to invest in LIBRA. After its price plummeted, many investors suffered significant financial losses.

Note: This information is not to be taken as investment advice.