Argentinian president Javier Milei has ordered the closure of the Process Drive for Investigation (UTI) established earlier this 12 months to look at his relationship with the LIBRA token, in response to a Could 20 publication in Argentina’s Official Gazette.
Milei and Justice Minister Mariano Cúneo Libarona signed Decree 332/2025 to dissolve the duty power. The decree said the forwarding of data gathered to the Public Prosecutor’s Workplace, and that the UTI had accomplished its mandate.
Moreover, native information outlet Ámbito reported that Argentine judicial authorities have confirmed that the broader felony investigation will proceed below the Public Prosecutor’s Workplace.
Investigators consider whether or not monetary crimes or conflicts of curiosity happen when involving presidential associates.
The disbanded activity power has not launched any official findings, and the identities of the unique LIBRA builders stay undisclosed.
LIBRA aftermath
Decree 114/2025 fashioned the UTI. It tasked it with figuring out whether or not fraudulent exercise or misconduct occurred within the promotion and collapse of LIBRA, a memecoin Milei personally endorsed through his official X account on Feb. 14.
The LIBRA case has generated widespread authorized and political fallout. Shortly after Milei’s public endorsement, which framed the token as a path to monetary freedom, LIBRA’s market capitalization surged to over $4.5 billion.
The speedy rise drew in massive retail funding volumes, just for the token to crash by greater than 85% inside days. Buying and selling liquidity evaporated, prompting accusations of market manipulation and insider profiteering, which resulted in Milei’s public belief plummeting.
Milei marketed LIBRA as a strategy to fund small ventures in Argentina. Following the crash, opposition lawmakers accused the Milei administration of selling an unregulated monetary instrument to politically aligned buyers.
Moreover, a federal decide in Argentina ordered the freezing of belongings belonging to people tied to the mission.
Choose María Servini additionally approved investigators to bypass banking secrecy protections to look at the monetary information of each President Milei and his sister, Karina Milei, amid allegations of hyperlinks to the token’s backers.
For the reason that activity power has not revealed a report with its investigation’s outcomes, the ties between LIBRA issuers and Milei’s administration are unclear.
Talked about on this article
