Federal prosecutor Eduardo Taiano is leading the investigation into the LIBRA meme coin case, which involves President Javier Milei and several businessmen. Anti-crisis measures have already resulted in a $100 million freeze.
LIBRA Meme Coin Investigation
Argentina's President Javier Milei and a group of businessmen are at the center of an investigation linked to the LIBRA meme coin's rapid drop in value. After skyrocketing to a $4.5 billion market cap, the token crashed to zero within six hours. Prosecutor Taiano demands full access to transactions linked to LIBRA to identify who profited from the collapse.
Key Figures Involved
According to reports, one of the scheme's participants was Hayden Davis from Kelsier. Davis admitted that he walked away with $100 million, using it as leverage until Milei came clean. Reports also allege that Davis controlled Milei through payments to his sister. The prosecutor demands access to deleted social media posts, including Milei's X post, to piece together the full timeline of the scam.
Money Transfers and Laundering
Investigators have flagged encrypted crypto wallets linked to an insider group who unloaded LIBRA before its crash. Hayden shared in an interview how the plan to scam was put together. Phone and visitor logs from the president's residence are being reviewed, and witnesses, including crypto stakeholders and Milei's inner circle, are giving their accounts. A suspicious $4.5 million transfer linked to the purchase of the POPE meme coin is under scrutiny for potential money laundering.
Argentine prosecutors are making every effort to unravel the intricate web of operations linked to the LIBRA meme coin. The investigation continues, including an analysis of actions by the Argentine Central Bank and the National Securities Commission. Future developments will determine if all participants can be held accountable.
