Catenaa, Thursday, May 22, 2025-Argentina’s government has disbanded an investigative task force examining the Solana-based LIBRA memecoin scandal involving President Javier Milei and his sister, just days after a judge ordered their bank accounts unsealed.
The Justice Ministry confirmed the decision Tuesday in a joint statement signed by Milei and the justice minister, asserting the unit had completed its mandate. The move follows an earlier judicial order requesting access to financial records of the president and his sister, Karina Milei.
The LIBRA token, promoted by Milei in February, surged to a \$2 billion market cap before crashing over 90 percent. The president had shared the token’s contract address on X, claiming it would fund small businesses. Soon after the collapse, he distanced himself, saying he lacked prior knowledge and never intended to encourage public investment.
The token’s launch was backed by Kelsier Ventures, a US-based entity, and facilitated by Hayden Davis, who claimed he paid Karina Milei to influence her brother’s endorsement. Those allegations helped trigger the investigation.
The case drew wider scrutiny when prosecutors began reviewing footage reportedly showing family members of one co-founder emptying safe-deposit boxes shortly after Milei’s promotion. A judge has since ordered the assets of three LIBRA co-founders frozen.
Despite Milei’s assertion that most investors were foreign and that Argentines saw minimal losses, critics say the timing of the task force’s dissolution raises transparency concerns amid a politically charged inquiry.
The High Court has not yet responded to the judge’s request for Milei’s banking information.
