$LIBRA Token Up 80% After Argentine President Milei Stops Investigation!

Jakarta, Pintu News – The Solana meme coin (SOL) called LIBRA saw a sharp rise of 80% after Argentina’s President Javier Milei disbanded the task force in charge of investigating the token.

This decision comes amid intense pressure to investigate Milei’s financial links, although it does not change the criminal charges that have been filed against her.

Check out the full news below!

The LIBRA Scandal and its Impact

LIBRA, which was involved in a pump and dump scandal, has decreased President Javier Milei’s popularity among the Argentinian crypto community. Despite having experienced a crash last February, LIBRA has never returned to its former success.

However, the coin rallied again today, with a gain of over 80% before finally dropping slightly. This rise is not the first time it has occurred in line with Milei’s statements and actions. Milei’s dissolution of the Unit for Investigative Tasks (UTI) raised questions about the continuation of the investigation.

The government argued that all the information that had been collected by the UTI had been forwarded to the Attorney General’s Office. The decision to disband the UTI was signed by Milei alongside Justice Minister Mariano Cúneo Libarona, marking a turning point in the investigation into the scandal.

Read also: Indonesia Considers Bitcoin as a National Asset, What’s the Plan?

Ongoing Investigation

Although UTI has been disbanded, the investigation into Milei’s involvement in the LIBRA project continues. Just last week, a federal judge ordered the release of financial records from Milei, her sister, and three other associates.

Their assets have also been frozen as part of the investigation. Furthermore, not only in Argentina, Milei also faces potential legal issues in the United States, given that many of LIBRA’s investors are US citizens.

US investors are reportedly preparing a class-action lawsuit, which adds to the pressure on Milei. Although the special task force has been disbanded, the pressure to investigate further will not go away. This suggests that the scandal will still continue and may bring more revelations in the future.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• CryptoSlate. Milei Shuts Down Libra Task Force Probing Ties to His Administration. Accessed on May 22, 2025
• BeInCrypto. Milei Dissolves Libra Task Force, Price Skyrockets. Accessed on May 22, 2025
• Decrypt. Argentine President Milei Shutters Libra Task Force. Accessed on May 22, 2025
• Featured Image: The Financial Express