Argentine Congressional Committee Accuses President Milei of Facilitating $107M LIBRA Token Scheme

An Argentine congressional investigative committee released a report on Nov. 21 alleging President Milei provided "critical cooperation" in the LIBRA token collapse and recommending Congress assess potential malfeasance charges. The committee said Milei promoted LIBRA on his personal social media accounts, after which eight wallets linked to the LIBRA team cashed out $107 million, resulting in losses for 114,410 investor wallets. The investigation also found Milei promoted another cryptocurrency called KIP Protocol, which experienced liquidity pool drainage after its December 2024 launch. Milei and other founders including U.S. entrepreneur Hayden Davis face judicial investigation in Argentina and a class action lawsuit filed by New York's Burwick Law firm; Milei has denied wrongdoing and dissolved a special investigative task force his office established in May.