A recent scandal involving the cryptocurrency LIBRA has drawn the attention of both investors and authorities. Argentine authorities have launched an investigation aimed at uncovering the circumstances of the abrupt price drop and suspected financial manipulations.
The LIBRA Controversy
LIBRA was introduced as a tool to support local small businesses and startups in Argentina. However, shortly after its launch, the token's price shot up and then plummeted by 90%, leading to allegations of an insider rug-pull scheme.
The Prosecutor’s Crackdown
Federal prosecutor Eduardo Taiano has initiated the freezing of $110 million in assets linked to LIBRA. The investigation includes scrutinizing transactions, reconstructing social media content, and making international requests to obtain data from foreign crypto exchanges.
How is Milei Involved?
President Javier Milei’s endorsement of LIBRA has triggered demands for his impeachment. Critics argue that deleting his posts didn't negate his misleading messages to investors.
The ongoing LIBRA investigation involves prominent figures, leading to asset freezes and social media activity reviews. The outcome could have critical implications for all parties involved.
