Argentinian President Milei Shutters Task Force investigates Libra Meme Coin Scandal

Argentinian President Javier Milei has deleted a body to investigate his role in February Controversial libra (scales) meme coin launch.

Documents published On the government’s website shows on Tuesday that the body has been dissolved in a movement approved by Javier Milei. According to the website, the Task Force had completed its research – but it did not reveal any further details to the public.

President Milei was in February hit With criminal charges after advertising a meme Called Bibra, of which he said it would benefit Argentina. His government established an investigative task group to look at potential misconduct, after political pressure.

There was a commotion of both the opposition and the citizens after the release of the Solana-Based scale; The currency shot up in value before he crashed hard, so that some investors and industrial observers claimed that the launch was a pump and dump schedule.

A criminal investigation is still underway.

In the world of crypto, meme coins are digital coins that are usually based on internet culture, jokes or people and events in the news. Thousands of these assets are beaten and released for a few days, and very few manage to get some substantial value. Less Hold on that value.

President Milei denied some misconduct after the launch. Decrypt The government reached comments, but did not immediately receive a response.

But the Argentinian leader may have chosen the right time to scrap the committee, according to James Bosworth, founder of Washington DC-based risk analysis Consultancy Hxagon, who focuses on Latin America.

“Milei is now going high,” he said Decrypt. “His efforts to drop currency controls has gone as good as hoped and the peso is stable. He has just won a small election in the capital. There is no better time for him to close this investigation, which released bad information just before the interim elections later this year.”

The price of scales has risen 60% over the past 24 hours, per data from Coetecko, perhaps from investors who want to see the controversy fade away and possibly take a second life for the currency. On a daily peak above $ 0.04 earlier it is the highest price that is seen in almost a month before the scales.

President Milei won the presidency in 2023 after campaign to combat the towering inflation of the South American country.

The eccentric leader has so far succeeded in reducing prices in Argentina, struggling with one of the highest inflation rates in the world. Last weekend the president of the president won the legislative elections of the capital.

MEME -MOENTS this year made the headlines after President Trump issued His own official Solana token prior to his inauguration.

The Solana-based meme-munt shot in price after a trade madness before he falls fast. While 81% decrease in peak, Trump the 52nd largest cryptocurrency remains on the market. The launch has attracted criticism from legislators who have argued that the cryptocurrency is a conflict of interest.

President Milei pulled controversy before he became the leader of Argentina, then in 2022 investors complained to him To promote a crypto investment platform that promised a huge return to users

Published by Andrew Hayward