Federal Judge Maria Servini has been chosen to lead an investigation into Argentine President Javier Milei’s involvement with the cryptocurrency $LIBRA following allegations of fraud. Milei promoted the cryptocurrency, which quickly lost value, leading to accusations of a scam. While Milei’s office denied his direct involvement in $LIBRA, critics pointed out his ties to the project. Some, including lawyer Jonatan Baldiviezo and NGO Observatorio del Derecho a la Ciudad, accused Milei of causing significant financial losses to thousands of individuals. Even one of the cryptocurrency’s developers blamed Milei for its decline in value. While an impeachment trial is unlikely, the scandal may impact Milei’s economic credibility before the 2025 midterm elections. Milei has blamed his political opponents for the controversy on social media. As the investigation progresses, questions linger about Milei’s role in the $LIBRA cryptocurrency debacle and its implications for his political future.
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