Argentina's LIBRA Controversy Exposes Connections Between Cryptocurrency and Politics Amid Worldwide Asset Freezes
- Argentina's federal court froze assets of LIBRA memecoin suspects, including U.S. founder Hayden Davis, over a $100M-$120M alleged pump-and-dump scheme linked to President Milei's endorsement. - Prosecutors allege Davis used Milei's influence to inflate the token's value, with $90M traced through exchanges like Bitget, including a $507,500 transfer 42 minutes after a presidential selfie. - The case highlights crypto-political ties, with texts suggesting Davis claimed control over Milei's decisions and pa
An Argentine federal court has indefinitely frozen the assets of several people associated with the LIBRA
The court’s “prohibición de innovación” ruling blocks any sale or transfer of assets, including digital currencies, to secure evidence during the ongoing investigation, as reported by
The investigation has sparked debate due to its political ramifications. Prosecutors allege that intermediaries like Rodríguez Blanco and Mellino converted crypto assets to fiat currency to disguise payments that may be linked to Milei’s associates. Text messages reportedly show Davis boasting about his sway over the president, saying, "I send money to his sister and he signs what I say," as reported by
The controversy has also reached global markets. In the U.S., a class-action suit accuses Davis and Meteora Trading of operating a “fraud factory” under the RICO Act, alleging coordinated international efforts to deceive investors, as reported by
The LIBRA investigation highlights increasing international regulatory attention on the intersection of cryptocurrency and politics. For example, Brazil has recently introduced tighter crypto regulations, requiring digital asset companies to obtain approval from the Central Bank by 2026, as reported by
As the Argentine probe continues, its outcome could shape how countries handle political influence in the crypto sector. For now, the freeze on Davis’s assets—and the looming threat of further penalties—marks a significant step in Argentina’s efforts to separate financial wrongdoing from high-profile digital asset endorsements, as reported by
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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