The repercussions of the collapse of the $ scale cryptocurrency are quickly transforming into a full political and legal crisis in Argentina. At the center of everything is President Javier Milei, whose public support for the token at the beginning of this year is now under an intense control. What began as a flashy promotion on the meme coins has turned spiral into activities of activity, criminal complaints and questions that reach the highest levels of government. The $ scale Argentine scandal is a lesson on how political sponsorships can feed speculation and damage daily investors.
The judge freezes the resources, targets internal circle
Judge María Servini authorized a block on the activities of several people related to the launch and promotion of $ Libra. This includes Mauricio Novelli, Manuel Terrones Godoy and Sergio Morales, who are believed to have carried out key roles in pushing the project to the public. Servini did not stop there, he also raised the protections of the banking secret on the accounts belonging to the president Milei and his sister, Karina Milei, who acts as a secretary general of the presidency.
Friday 14, the president of Argentina Milei tweeted on $ Libra Moneta, encouraging its followers to buy it for reasons that “would help to finance small businesses and start-ups”. As if this were not enough, he shared a link for people to buy it online. Of course, within a few … pic.twitter.com/bc0i1e0sj1
– Yanis Varoufakis (@yanisvaroufakis) February 19, 2025
The goal of the court is to follow the money. Investigators are trying to determine if someone in Milei’s internal circle has benefited financially of the short increase in the coin before his sudden accident.
A token enhanced by presidential Hype
$ Scale launched on February 14 with a bang. On the same day, President Milei published on social media praising the token, triggering a wave of interest of investors. The price has increased quickly while thousands of people have purchased, assuming that Milei’s approval has given legitimacy to the project. But in a few days, the price Tanked, Leaving many retail investors in possession of the bag.
The tests now indicate that some of the first insiders in the first employees for the sale of participations just before the decline. This fueled the suspicions of a coordinated pump and dump scheme and raised serious concerns for the abuse of public influence for private gain.
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Political recitlance is building quickly
It is not surprising that the scandal is causing a serious shock in the political panorama of Argentina. More than 100 complaints of fraud have been presented against Milei and opposition legislators are openly discussing impeachment. The congress started an official investigation and critics say that the president used his platform to attract citizens in a financial trap.
Milei’s approval assessments have undergone a blow and what was once an external high -energy administration administration is facing accusations of treason and incompetence. The scandal began to obscure his political agenda and threatens to completely derail his presidency.
Legal problems spread beyond Argentina
The dispute is not limited to local courts. According to reports, international law firms are preparing class legal causes on behalf of investors from the outside of Argentina who have lost money on $ Libra. In the meantime, the US law enforcement agencies, including the FBI and the Department From Justice, have been warned. If the bad financial conduct crossed the boundaries or violates international financial laws, this case could become even bigger.
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Argentina $ Crypto Scandal Libra: a hard lesson on Crypto and Politics
The Fallout of $ Libra is preparing to be one of the most high profile cryptographic scandals to hit Latin America. It is also a reminder of what can go wrong when political power meets speculative assets. For investors, it is a felt story. For politicians, it is a warning: playing with the cryptocurrency led by Hype has consequences in the real world.
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Argentine president Javier Milei is under shooting after publicly supporting $ libra, a meme coin now linked to fraud and freezing of activities.
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A federal judge frozen the activities and revoked banking on the accounts linked to Milei and his sister, as part of a wider financial investigation.
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The tests suggest that the first insiders of the scale may have downloaded their token after Milei’s public support unleashed a price peak, raising fraud problems.
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Over 100 complaints of fraud were presented against Milei, with the congress that launched an investigation and the leaders of the opposition that discuss impeachment.
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They can follow international legal action, since investors and US authorities examine whether the $ scale regime has violated cross -border financial laws.
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