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Milei Closes Down LIBRA Investigative Unit After It Shares Findings With Prosecutors
The country's Department of Justice claims the investigative unit has fulfilled its purpose.
Updated May 20, 2025, 7:07 p.m. Published May 20, 2025, 3:54 p.m.
What to know:
- The Argentinian government has dissolved a special unit formed for investigating the ties of President Javier Milei and his sister to the LIBRA memecoin.
- The investigation's findings were shared with the public prosecutor's office.
- LIBRA's market value surged and then plummeted after a tweet from Milei in February.
The unit in charge of investigating President Javier Milei's connection to the LIBRA memecoin has been dissolved after it shared its findings with the public prosecutor's office.
The Unidad de Tareas de Investigación (UTI) has accomplished its objective, stated a decree issued by the ministry of justice on Monday. The document was signed by Milei and Justice Minister Mariano Cúneo Libarona.
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The unit received assistance from a series of government agencies in the course of its investigation, including the Argentinian central bank and the anti-corruption office.
In February Milei tweeted about LIBRA, a Solana-based memecoin; the coin's market capitalization rose to $4.5 billion before tanking more than 80% in a couple of hours.
LIBRA's co-creator, Hayden Davies, had previously claimed to that he could "control" Milei because of payments he'd made to the President's sister, Karina, herself an important figure of Milei's government.
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- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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