The President of Argentina, Javier Milei, has decided to dissolve the task force that was investigating the circumstances surrounding the crash of the LIBRA cryptocurrency project. The decree was signed on May 19, 2025, one day before a scheduled parliamentary inquiry by the opposition.
This is reported by Business • Media
The document states that the group has completed its work, but opposition representatives consider this decision an attempt to evade responsibility. In their view, the president intends to conceal his involvement with the token.
LIBRA Crash and Its Consequences
This investigative group was established in February 2025, just a few days after Milei posted on social media expressing support for the token. As a result, the value of LIBRA rose to $4.5 billion, but soon the asset depreciated, leading to losses of $251 million for over 15,000 investors.
Accusations and Rating Decline
The token’s collapse has led to accusations against Milei of market manipulation and possible insider trading. Local media report that the president’s approval rating has significantly declined due to this situation. He has repeatedly assured that he “simply shared” information about the project without any malicious intent.
According to the president, most of the affected investors are foreigners, and he estimated the number of Argentinians who suffered losses to be “four or five people.” However, analysts point out that over 15,000 wallets recorded losses exceeding $1,000, and 86% of asset holders incurred losses. Total losses exceeded $251 million.
Additionally, on May 18, 2025, it was reported that Judge María Servini ordered the Central Bank of Argentina to lift the banking secrecy on the accounts of President Javier Milei and his sister Karina. Previously, the court had frozen the assets of three co-founders of the LIBRA token.
“He simply shared information about the project,” claims Milei.
Furthermore, lawyer Gregorio Dalbon is demanding the arrest of the creator of LIBRA through Interpol.