Argentinian lawmakers have initiated an investigation into the LIBRA crypto project, calling for testimonies from officials linked to the token’s collapse. The Chamber of Deputies passed three resolutions to establish a special commission to investigate the activities of government officials who may be involved with the meme coin LIBRA, which caused a significant scandal in February 2025.
This is reported by Finway
It is worth noting that Argentine President Javier Milei came under scrutiny after publicly supporting the LIBRA token, whose value subsequently plummeted, causing serious losses for investors. Following this, Milei withdrew his support for the project, stating that he did not have a deep understanding of its essence. The opposition accused him of fraud, and some politicians called for his impeachment.
Investigation and Testimonies
According to an official statement from the Chamber of Deputies, the resolutions passed include summonses for several high-ranking executive officials to appear before Parliament, including the Chief of Staff to the President, the Minister of Economy, the Minister of Justice, and the head of Argentina’s National Securities Commission, to provide testimony regarding the LIBRA situation.
“It is time for Congress to verify whether harm has been done to Argentina; we owe it to the citizens to speak the truth,” stated Deputy Pablo Giuliano from the Democracia para Siempre bloc.
Controversies Surrounding the Investigation
At the same time, Deputy Nicolás Mayoras from Milei’s party La Libertad Avanza referred to the investigation as an “interference” and called for respect for the separation of powers. Hayden Davis, CEO of Kelsier Ventures, which is behind the launch of the LIBRA meme coin, reported on his role as an advisor to Milei regarding the project and his close collaboration with his team.
In his interview with YouTube journalist Coffeezilla, Davis admitted that the LIBRA team “sniped” the token at launch to prevent others from doing so—a strategy where tokens are bought immediately after launch at a low price and sold as prices rise. The Argentine prosecutor’s office has requested Interpol to issue an international warrant for Davis.