Argentine President Javier Milei has dissolved a job pressure established to research the fallout from LIBRA, the scandalous cryptocurrency undertaking the pinnacle of state promoted on his social media channel earlier than it crashed to zero.
The Investigative Job Pressure (ITU) was dissolved through a Might 19 decree signed by Milei and Justice Minister Mariano Cúneo Libarona, authorities paperwork revealed.
“The Analysis Job Unit is dissolved” after finishing its mandate, the translated model of the decree learn.
The duty pressure is being dissolved regardless of stress from opposition teams, that are in search of to activate an investigative fee as quickly as Might 20, native media outlet Clarin reported.
Authorities officers established the UTI on Feb. 19, mere days after President Milei promoted LIBRA on his official X account.
His endorsement briefly despatched LIBRA hovering from virtually nugatory to $5 a token and a virtually $5 billion market capitalization, earlier than shortly crashing to zero in what seemed to be a traditional pump-and-dump scheme.
The fallout from LIBRA sparked allegations of insider buying and selling and manipulation, with President Milei caught within the crosshairs.
Along with dealing with an investigation, Milei’s credibility suffered at house, with almost 58% of Argentinians saying they no longer trust the president for his position within the scandal.
Associated: Argentine President Javier Milei denies promoting failed LIBRA memecoin
“I didn’t put it on the market, I shared it”
In a televised interview on Todo Noticias, Milei denied any wrongdoing for selling the undertaking, claiming that he merely shared details about a undertaking that sought to assist entrepreneurs entry funding choices.
“I noticed a device that might finance entrepreneurs, and I unfold the phrase. I acted in good religion and took a success,” he stated, in response to a translation of the interview.
Milei additionally downplayed traders’ losses, claiming that “at most” 5,000 individuals have been affected — the overwhelming majority of whom have been Chinese language and American. He claimed that solely “4 or 5” Argentinans suffered losses.
Nonetheless, blockchain data reviewed by Cointelegraph revealed that greater than 15,000 wallets offered LIBRA at a revenue or lack of greater than $1,000. Greater than 86% of wallets reported a loss totaling $251 million.
Journal: Influencers shilling memecoin scams face severe legal consequences
