Just days after a judge requested access to the president's bank accounts, the Argentine government shut down a task force designed to investigate the LIBRA cryptocurrency scandal involving President Javier Milei and his sister, according to a statement from the country's Minister of Justice.
This comes days after a judge ordered the Argentine central bank to disclose the bank accounts of both the president and his sister.
Earlier this year, Milei publicly promoted the LIBRA memecoin based on Solana, leading to an investigation after the coin's value suddenly soared before collapsing. LIBRA was created in February by Kelsier Ventures, a Delaware-based company. Days after its launch, Hayden Davis, who proclaimed himself a broker for the controversial LIBRA coin, claimed he paid Karina Milei to influence her brother before the memecoin's launch.
Hours after its launch, Milei claimed on social media platform X that Libra would provide funding for small and emerging businesses to support Argentina's economy. Milei's post included a link to the coin's website and its contract address on the Solana platform. The value of Libra surged to a market cap exceeding two billion dollars before quickly retracting and collapsing by more than 90%.
Then Milei backtracked on his support for the project after its value collapsed, saying he had no prior knowledge of it and never intended to convince people to buy it.
Milei said at the time: "I am not an expert. My specialty is economic growth, with money and without it." "As someone who is very passionate about technology, I see the potential of having a tool to finance entrepreneurial projects, so I am spreading the word."