Argentine President Javier Milei is once again in the spotlight — this time for a controversial move: he has shut down a special task force that was investigating the scandal surrounding the Solana-based meme coin Libra, which he himself publicly endorsed.

💥 From Hype to Scam: What Really Happened?

It all started back in February, when President Milei promoted the new meme coin Libra on his X profile, calling it a way to “boost the country’s economy.” The token quickly skyrocketed… and then crashed hard.

Within hours, more than $4.4 billion in market cap vanished, revealing it was all part of a well-orchestrated rug pull.

🧾 The End of the Task Force

Now, with Decree No. 114/25, the Investigative Unit (UTI) has been officially disbanded. The unit was originally created to examine whether Milei’s promotion of Libra involved corruption or abuse of power. According to the government, the unit has “fulfilled its mission, and relevant findings have been forwarded to the appropriate authorities.”

But critics say this is nothing more than a cover-up.

💸 Who Profited?

According to available reports, insiders managed to withdraw over $107 million, with an additional $87 million drained from the liquidity pool. While everyday investors saw their funds vanish, those operating behind the scenes walked away with massive profits.

One of the key figures linked to the operation is Hayden Davis, allegedly part of the team behind the Libra coin.

🔍 The Investigation Isn’t Over

Even though Milei shut down the UTI, the legal investigation is far from over. CNN Chile reported that courts in Argentina, the U.S., and Spain are all continuing to investigate Milei and his sister Karina Milei, who serves as Secretary General of the Presidency.

The Argentine Parliament has also set up a special committee to dig deeper into the case.

And Trump? A Similar Story, Different Outcome

A similar controversy recently involved U.S. President Donald Trump, who faced backlash over his own meme coin, TRUMP. Critics accused him of corruption, but nothing substantial came out of the allegations.

On the contrary — Trump is hosting a dinner on May 22 to honor the top holders of the TRUMP token, showing he’s still fully embracing the memecoin craze.

🔎 Final Thoughts

The Libra crypto scandal highlights how closely politics and crypto can intertwine — often dangerously. Whether it's President Milei or Trump, the rise of meme coins tied to political figures is becoming more frequent — and more controversial.

So the real question is: Is this the future of digital finance or just another elaborate scam in disguise?



#JavierMilei , #CryptoScandal , #Cryptoscam , #libra , #CryptoNewss

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