Argentinian lawmakers have initiated an investigation into the cryptocurrency project LIBRA, which has caused significant public outcry. They have called on several officials to testify regarding the collapse of the token’s value and to prepare a report on the meme coin.
This is reported by Business • Media
The Chamber of Deputies of Argentina has passed three resolutions that entail a detailed examination of the activities of government officials associated with the meme coin LIBRA, which became the center of a scandal in the market in February 2025.
It is worth noting that the President of Argentina, Javier Milei, came under fire after he publicly supported the LIBRA token, the value of which subsequently plummeted, causing severe losses for investors. Following this, the president withdrew his support for the project, stating that he did not have a clear understanding of its nature. The opposition accused him of fraud, and some politicians called for impeachment.
Creation of a Commission for Investigation
According to an official statement from the Chamber of Deputies, the resolutions passed include the establishment of a special commission that will investigate the situation, as well as summon several high-ranking executive officials to parliament. Among the officials planned to be heard are the Chief of Staff to the President, the Minister of Economy, the Minister of Justice, and the head of the National Securities Commission of Argentina.
“It is time for Congress to verify whether harm has been done to Argentina; we owe it to the citizens to speak the truth,” said Deputy Pablo Giuliano from the Democracia para Siempre bloc.
Opposition Criticism of the Investigation
At the same time, Deputy Nicolás Mayoras from Javier Milei’s party La Libertad Avanza characterized the investigation as “interference” and called for respect for the separation of powers. It should be noted that the CEO of Kelsier Ventures, the company behind the launch of the LIBRA meme coin, Hayden Davis, had previously reported his involvement in the project and collaboration with the president’s team.
Additionally, in an interview with YouTube journalist Coffeezilla, Davis admitted that the LIBRA team “sniped” the token at launch to prevent other market participants from taking advantage of the situation — meaning that tokens were purchased immediately after launch at a low price and sold when the value increased.
The Argentine prosecutor’s office has contacted Interpol to request the issuance of an international arrest warrant for Davis. It was previously reported that the Jupiter platform was accused of insider trading related to the LIBRA meme coin.