Argentine federal prosecutor Eduardo Taiano is pushing to freeze over $110 million in proceeds tied to the controversial Libra memecoin following its promotion by President Javier Milei.
Background of the Libra Scandal
The Solana-based memecoin Libra gained traction after a social media endorsement by President Javier Milei. Milei described the project as an initiative to support small businesses and startups in Argentina. However, the token quickly collapsed by over 90% after its initial surge.
Funds Distribution and Involved Parties
Central to the scandal is Hayden Davis, CEO of Kelsier Ventures, who played a key role in getting Milei to promote Libra. In an interview with YouTube investigator Coffeezilla, Davis admitted to holding over $110 million from the token's launch.
Further Consequences and Investigation
The Argentine President has been charged with fraud over his involvement in the Libra token project. Milei denies any prior knowledge of the token’s operations, and his administration announced an investigation to determine if any improper conduct took place.
The scandal surrounding the Libra memecoin has led to significant repercussions, including investigations into high-ranking Argentine officials and potential legal actions.
