Community Trust ScoreVerified
Javier Milei is facing a storm. The Argentine president finds himself embroiled in a major controversy surrounding the cryptocurrency $LIBRA, which has been shaking the markets since February 2025.
The story begins when Milei shares a crypto project on X, briefly supporting the initiative before abruptly changing his mind. The $LIBRA soars to new heights, only to crash dramatically afterward. 114,000 wallets suffer significant losses in the process. However, 36 others each pocket more than a million dollars. Investors are still seeking clear answers about what really happened. The gap between winners and losers raises troubling questions about possible manipulations. Financial authorities are digging deep to understand this suspicious distribution of gains.
No concrete evidence has surfaced so far.
Rumors suggest a $5 million payment was made to Milei to boost $LIBRA. The president categorically denies receiving a single cent. Yet, the shadow of the scandal still looms over him. The lack of transparency in his personal transactions fuels speculation. Investigators are scrutinizing his bank accounts and crypto wallets for any suspicious movements during the critical period.
The Buenos Aires Securities Commission steps up on March 15, 2026. It wants to know if market manipulations occurred. The impact of Milei’s public statements on price volatility is under particular scrutiny.
Several aggrieved investors are preparing their legal arsenals. A group led by lawyer Carlos Dominguez has already filed a class-action lawsuit against Milei. They accuse him of deceptive practices that caused massive financial losses. Other legal actions may follow in the coming weeks.
CryptoArg, the main exchange platform for $LIBRA, must open its books to investigators. Regulators are demanding all transaction data during the period of high volatility. Suspicious fund movements are being thoroughly examined. This echoes themes explored in Deblock Launches a 4% Current Account, underscoring the shifting landscape.
Milei remains silent. He has carefully avoided interviews and public appearances since the affair began. His office only states that he is cooperating with the authorities. No court date has been set. Milei’s lawyer, Ana Torres, asserts her client’s innocence and the lack of concrete evidence.
On March 16, 2026, an internal report from the Commission reveals suspicious transactions just before $LIBRA’s peak. These movements total $12 million and attract regulators’ attention. The former financial director of CryptoArg, Gustavo Ramirez, is summoned for a hearing on March 20, 2026. He allegedly had exchanges with key investors shortly before the crash.
Roberto Sanchez, a former business partner of Milei, denies any involvement in promoting the crypto. Questioned on March 17, 2026, he claims to know nothing about the financial details of the $LIBRA campaign.
On March 18, 2026, an internal document from X leaks. It reveals that Milei sought meetings with several crypto influencers before the initial promotion. These influencers, whose names remain secret, may have played a role in the initial enthusiasm for the cryptocurrency.
The Buenos Aires court receives a request on March 19, 2026, to disclose Milei’s electronic communications. The goal: to clarify the interactions between Milei and $LIBRA promoters. The outcome could be a game-changer in the investigation. Analysts have drawn connections to LBank Unveils Massive World Cup Crypto amid evolving conditions.
A former CryptoArg employee, speaking anonymously, reveals on March 20, 2026, that massive buy orders were placed just before Milei’s tweets. These unusual transactions raise fears of insider trading and put pressure on the authorities.
Regulators are consulting with cybersecurity experts to audit the $LIBRA blockchain. They aim to trace the financial movements of the identified suspicious wallets. The initiative, announced on March 21, 2026, could provide crucial evidence in this complex case that continues to make waves in the Argentine crypto markets.
The Central Bank of Argentina is closely monitoring the repercussions of the $LIBRA affair on the stability of the digital peso. Governor Miguel Fernandez has called an emergency meeting with major financial institutions to assess systemic risks. Traditional banks fear a contagion effect that could undermine confidence in the nascent Argentine crypto ecosystem.
The political opposition is not missing a beat of the scandal. Senator Patricia Morales is demanding the creation of a special parliamentary commission to investigate the links between Milei and cryptocurrencies. She points to the lack of clear regulation in a sector where Argentine citizens are massively investing their savings. Three other opposition parties have already signaled their intention to support this parliamentary initiative.
