Source: Cointelegraph
Original: “Argentinian President Milei Shuts Down Task Force Investigating LIBRA Scandal”
Argentinian President Javier Milei has disbanded a task force dedicated to investigating the consequences of the LIBRA cryptocurrency project. LIBRA is a scandal project promoted by the head of state on his social media channels, which subsequently plummeted in value to zero.
According to government documents, the investigation task force (ITU) was disbanded through a decree signed by Milei and Justice Minister Mariano Cúneo Libarona on May 19.
The translated version of the decree states: “The research task force has been disbanded after completing its mission.”
Despite pressure from opposition groups to quickly initiate an investigative committee on May 20, the task force was still disbanded, local media outlet Clarin reported.
Government officials established the UTI on February 19, just days after Milei promoted LIBRA on his official X account.
His endorsement briefly boosted LIBRA's price from nearly worthless to $5 per token, with a market capitalization approaching $5 billion, before rapidly crashing to zero, exhibiting characteristics typical of a pump-and-dump scheme.
The consequences of LIBRA have sparked allegations of insider trading and manipulation, with Milei becoming the target of criticism.
In addition to facing investigation, Milei's reputation at home has also suffered, with nearly 58% of Argentinians stating they no longer trust the president due to his role in the scandal.
In a television interview with Todo Noticias, Milei denied any wrongdoing in promoting the project, claiming he was merely sharing information about a project aimed at helping entrepreneurs access funding options.
According to the translation of the interview, Milei stated: “I saw a tool that could provide financing for entrepreneurs, so I spread the word. I acted in good faith and was attacked for it.”
Milei also downplayed the losses suffered by investors, claiming that “at most” 5,000 people were affected, the vast majority of whom were Chinese and Americans. He asserted that only “four or five” Argentinians incurred losses.
However, blockchain data reviewed by Cointelegraph shows that over 15,000 wallets sold LIBRA with profits or losses exceeding $1,000. More than 86% of wallets reported a total loss of $251 million.
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