US Prosecutors Weigh Charges Against President Javier Milei in LIBRA Scandal

US prosecutors may pursue charges against President Javier Milei related to the LIBRA meme coin scandal, while impeachment efforts in Argentina are underway.

An American citizen, Hayden Davis, was crucial in launching LIBRA and admitted to criminal actions in a recent interview. The controversy has caused Argentine stocks to plunge nearly 6%.

President Milei’s LIBRA Meme Coin Scandal Goes Global

A major scandal has erupted in the crypto world, as Argentina’s President, Javier Milei, was allegedly involved in a significant rug pull linked to the LIBRA meme coin. Milei, a pro-Bitcoin politician, initially promoted the coin but later distanced himself from it after insiders cashed out $105 million. He deleted his promotional tweet, claiming ignorance about the project, sparking investigations and impeachment actions against him in Argentina, alongside interest from US regulators.

Reports suggest the FBI and DOJ have received complaints regarding Milei’s role in LIBRA’s launch, which defrauded both Argentine and American investors, giving US authorities possible jurisdiction.

Prominent in this scandal is Hayden Davis, CEO of Kelsier, the market maker for LIBRA. During an interview with Coffeezilla, he defended his actions while hinting at Milei’s lack of direct financial involvement, stating the LIBRA team had noble intentions despite the rug pull.

Legal Concerns for All Associated Parties

There appears to be ample evidence for US prosecutors should they choose to pursue legal action. Davis’s firm, Kelsen Ventures, is based in the US, which adds complexity to the situation. Despite the potential for prosecution, there has been no sign from US authorities indicating they will pursue charges against Milei or those involved with LIBRA.

Argentina, however, is taking firm action against Milei, with local crypto leaders alleging further misconduct. The Argentine stock market’s 6% drop reflects the gravity of the situation.

Currently, the outcome is unpredictable. While Milei’s opponents aim to hold him accountable for the LIBRA scandal, the US government’s reduced crypto enforcement actions complicate potential legal consequences for a foreign leader.