Argentina’s anti -corruption workplace will examine Milei for the LIBRA case

Javier Milei, president of Argentina, can be investigated by the Anti -Corruption Workplace (OA) to confirm if there was any hyperlink between the president, or some member of the federal government of that nation, and the venture behind the Cryptocurrency Libra.

Analysis on the launch of that token via that company provides a selected flip to the case, since The OA relies on the Argentine Government Energy (which is led by the President of the Nation).

In accordance with the provisions of X “Workplace of the President”, which disseminates official communications, the investigation that the OA will perform is promoted by the Argentine President himself.

That very same supply defined that on October 19, 2024, Milei met with Mauricio Novellli and Julian Peh, executives of Kip Protocolone of many firms linked to Token $ Libra, whose venture “Lengthy reside freedom” allegedly sought to finance non-public ventures.

Then, on January 30, 2025 and in response to the announcement of the president’s workplace, the Argentine head of state met with Hayden Mark Davis, a technological infrastructure supplier introduced as a KIP Protocol associate. At the moment, as cryptootics reported it, the assembly caught the eye of many as a result of it was a personality till then unknown.

Nevertheless, the assertion continued that, regardless of these conferences, Milei “was not a part of any occasion of the event of cryptocurrency.” As well as, from this X account they expressed the intentions of the president of the South American nation after what occurred with $ Libra:

“President Milei, who has demonstrated his vocation for the reality, is dedicated to the due clarification of this reality till the final penalties.”

Workplace of the President of the Argentine Republic.

Given the controversy generated by the alleged cryptographic rip-off of Libra, Milei created a analysis job unit (UTI), with the aim of analyzing the launch of that token and the folks concerned.

Why would Javier Milei examine on this case?

As Cryptonoticias reported, on February 14, Javier Milei’s account in X disclosed the existence of a Solana Token generally known as Libra, presenting it as an initiative targeted on “encouraging the expansion of the Argentine financial system.” After the diffusion, the worth of the cryptocurrency elevated to $ 4.97 per forex.

Nevertheless, after a couple of hours and mass gross sales product, His quote fell immediatelyinflicting losses for a lot of of those that had purchased Libra.

Libra worth conduct may very well be linked to a sort of fraud within the cryptocurrency ecosystem, generally known as rug pull. This can be a fraudulent scheme the place the builders or promoters of a venture, after attracting buyers and rising the worth of the token, Liquidity withdraw (completely or partially) inflicting difficulties in your commerce.

As well as, pound gross sales by addresses apparently linked to the developer workforce have been detected.

On this state of affairs, to realize acceptance and credibility, it’s important that the promotion got here from somebody acknowledged or with ample authority, in order that it didn’t appear a rip-off. That is the place the suspicions started to emerge, after the participation of Javier Milei within the promotion of Libra.

The gross sales of the creators of that Token prompted a collapse in its worth, for the reason that demand didn’t accompany the brand new provide. In keeping with information collected by the Lookonchain evaluation website, Wallets linked to the workforce behind Libra would have dedicated these operations, buying greater than 100 million {dollars}.

Alternatively, the little data out there to be taught concerning the “Reside La Libertad” venture was one other issue that promoted suspicions. The one factor out there on its web site is a tokens distribution through which 50% could be destined to the expansion of Argentina, with out specifying how; 20% for a treasury of the corporate; and 30% for liquidity. Doesn’t provide any element concerning the operation or tokenomics of its cryptoactive.

The occasion unleashed a powerful debate on the president’s accountability within the dissemination of an asset that collapsed in such a short while and, within the face of criticism, Milei determined to remove the tweet that referred to the digital forex. On this state of affairs, the Anti -Corruption Workplace will analyze whether or not the president or his surroundings incurred improper behaviors.