An Argentine court has frozen assets tied to the LIBRA memecoin amid fraud allegations, with investigations focusing on political figures, including President Javier Milei and his sister Karina. Investors have reportedly lost around $250 million due to market volatility related to the project.
This investigation marks a significant moment in cryptocurrency scandals, examining a sitting head of state's involvement. Judicial authorities are scrutinizing financial activities to gather evidence for potential fraud charges.
The controversy highlights concerns over improper promotion practices following President Milei's endorsement, leading to instability in LIBRA's market.
Analysts predict that this case could result in stricter regulations on cryptocurrency projects linked to political endorsements, which may shape future regulatory considerations.
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