Javier Milei Disbands LIBRA Scam Investigation Task Force
Argentine President Javier Milei has officially disbanded the task force investigating the LIBRA case. The scandal resulted in significant investor losses and damaged Milei’s own public image
Argentine President Javier Milei has officially dissolved the special task force assigned to investigate the LIBRA memecoin scandal. The decree, dated May 19, was signed by Milei and Justice Minister Mariano Cúneo Libarona.
The disbanding comes just days after a court ordered the unsealing of bank accounts linked to the president and his sister. It remains unclear whether the task force’s findings will be treated as final, as the case is still under review by the public prosecutor’s office.
LIBRA Scandal: The Backdrop
In February 2025, Milei publicly endorsed the LIBRA memecoin on X. Within hours, the Solana-based token’s market cap soared to $4.5 billion. However, it quickly crashed by nearly 90%.
Created by Kelsier Ventures under the leadership of Hayden Davis, LIBRA quickly attracted investors from the U.S. and China, while the Argentine market remained largely unaffected.
The scandal escalated after leaked messages showed Davis allegedly boasting that he had paid the president’s sister to influence Milei’s support for the token prior to launch.
Following the collapse, Milei publicly distanced himself from the project, claiming he had no insider information and never encouraged anyone to buy the memecoin.
“I’m not an expert. My specialty is economic growth, with and without money,”
the president said at the time.
Related: Argentine Prosecutors Seek Interpol Red Notice for Hayden Davis’ Arrest
Dissolution of the Task Force
On Feb. 19, 2025, Argentina’s Ministry of Justice established the Unidad de Tareas de Investigación (UTI) to investigate possible misconduct related to the LIBRA memecoin. The task force included representatives from the Central Bank of Argentina and the national anti-corruption bureau.
Exactly three months later, on May 19, 2025, President Milei and Justice Minister Mariano Cúneo Libarona signed a decree disbanding the unit, stating that UTI had fulfilled its mandate and transferred all collected materials to the public prosecutor’s office.
Related: Javier Milei, $Libra, and the High-Stakes Gamble That Shook Argentina
The decree offers no clarification on the task force’s conclusions or recommendations for further action. The official government stance frames the move as the conclusion of the preliminary investigation phase, though legal proceedings involving the president remain ongoing.
The Story May Not Be Over
A judge has recently ordered an investigation into the financial activity of Milei and his sister Karina. Earlier, the court froze the assets of three LIBRA co-founders and is now reviewing video evidence related to cash withdrawals made by family members of one of them.
Opposition parties have already announced plans to launch a parliamentary inquiry in the near future. While the official reason for disbanding the task force cites the completion of its mandate, the LIBRA case could regain momentum through court rulings and legislative pressure.
Related: Argentina’s Congress Approves Official Inquiry into LIBRA Token Crash
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