Libra soars 80% as President Milei disbands investigation force

LIBRA has increased by over 80% after Argentine President Javier Milei dissolved a special task force dedicated to investigating this Token. The Investigation Unit (UTI) has transferred all of its information to the national prosecutor's office.

This may or may not obstruct some investigations, but there is strong pressure to investigate Milei's financial relationships. This action does not change the criminal accusations currently being filed against the head of the Argentine state.

President Milei and the LIBRA Scandal

The LIBRA Pump and Dump is a major scandal for Argentina's crypto community, especially due to the alleged involvement of President Javier Milei.

Criminal accusations have been filed against Milei, and both the court and congress are investigating him. However, according to local reports, these investigations may have encountered obstacles:

"The government believes that the information collected [by UTI] has been transferred to the Prosecutor's Office, and that [UTI] has completed its assigned task," read an official decision to dissolve UTI. It was signed by President Milei and Justice Minister Mariano Cúneo Libarona.

LIBRA is a large Rug Pull that has significantly reduced Milei's public support in Argentina. However, this Solana-based meme coin still exists.

Since its launch and collapse in February, LIBRA has never regained its previous success, but today it is rising again. The asset has increased by over 80% before slightly decreasing.

This is not the first time LIBRA has surged based on President Milei's statements and actions. For example, it recovered 60% after Milei reposted a purchase guide, but a disastrous television interview caused it to crash again on the same day.

Currently, LIBRA is an abandoned meme coin, which typically does not suggest long-term stability.

However, one aspect of the matter seems more predictable. Even though the LIBRA-specific task force has been dissolved, many investigations are still targeting Milei's exact involvement in the project.

Last week, a federal judge ordered the disclosure of Milei's financial records, along with those of his sister and three associates. These individuals have also had their assets frozen.

Moreover, domestic LIBRA oversight is not the only thing Milei needs to worry about. Many LIBRA investors are US citizens, raising the possibility that US law enforcement agencies might prosecute him.

This has not happened yet, but local media reports that some of these investors are filing class-action lawsuits. This oversight will not simply disappear overnight.