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- Milei faces backlash after shutting down $LIBRA fraud unit amid mounting legal investigations.
- $LIBRA investors lost $250M after a sudden crash triggered by Milei’s public endorsement.
- Multiple probes remain active as Argentina’s government faces scrutiny over crypto scandal fallout.
President Javier Milei has ended the investigation by investigating his involvement with the $LIBRA cryptocurrency scandal. There has been widespread criticism about the decision, as Argentina is still pressured to keep things transparent and answerable.
The UTI was formed shortly after Milei supported the $LIBRA token through social media posts. By speaking out, he said the coin would help small businesses recover from the pandemic.
When he supported $LIBRA, the token’s value quickly increased, only to crash by 90 percent a few days later. Thousands of retail investors around the country suffered over $250 million in losses.
Under Decree 332/2025, signed by Milei and the justice minister, the unit’s role was considered over. Officials say that all the data collected has been sent to the Public Prosecutor’s Office for handling.
No official information or outcomes from the investigation have been shared yet with the public. Some critics say the shutdown came too soon and could help people close to the government avoid further investigation.
Legal Pressure Mounts as Scrutiny Intensifies Nationwide
María Florencia Zicavo led the unit as a close companion of Justice Minister Mariano Cúneo Libarona. She oversaw the team for only three months before the board ended its operation.
At the same time, Congress created a different commission to examine how Milei was tied to the cryptocurrency collapse. Judge María Romilda Servini is heading the judicial investigation into possible wrongdoing by government officials.
At the exact moment, complaints in American courts assert that Milei imposes false claims and promotes $LIBRA unfairly. Both the Central Bank and the Securities Commission are investigating the matter.
There has been no word from these agencies, and people are now angry and suspicious. More people are asking independent analysts to explain the coin’s collapse to the public. The government is dealing with more legal, political, and public problems due to one of Argentina’s largest crypto scandals.
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