Argentinian president Javier Milei has made a significant decision regarding the investigation into his involvement with the LIBRA token. In a recent publication in Argentina’s Official Gazette on May 20, it was revealed that Milei has ordered the closure of the Task Force for Investigation (UTI) that was established earlier this year to look into the matter.
The closure of the UTI was confirmed through Decree 332/2025, signed by Milei and Justice Minister Mariano Cúneo Libarona. The decree stated that the information gathered by the task force will be forwarded to the Public Prosecutor’s Office, indicating that the UTI had completed its mandate.
According to local news outlet Ámbito, Argentine judicial authorities have confirmed that the broader criminal investigation into the LIBRA token will continue under the Public Prosecutor’s Office. The investigation aims to determine whether any financial crimes or conflicts of interest were involved in the promotion and collapse of LIBRA, a memecoin that Milei publicly endorsed through his official X account on February 14.
The aftermath of the LIBRA case has led to significant legal and political repercussions. Following Milei’s endorsement, which resulted in a surge in LIBRA’s market capitalization to over $4.5 billion, the token crashed by more than 85% within days. This drastic drop in value raised suspicions of market manipulation and insider profiteering, leading to a decrease in public trust towards Milei.
Opposition lawmakers have accused Milei’s administration of promoting an unregulated financial instrument to politically aligned investors, further complicating the situation. Additionally, a federal judge in Argentina has ordered the freezing of assets belonging to individuals connected to the LIBRA project and authorized investigators to bypass banking secrecy protections to examine the financial records of President Milei and his sister, Karina Milei.
Despite the closure of the UTI, the ties between the issuers of LIBRA and Milei’s administration remain unclear as the task force did not release any official findings. The investigation into the LIBRA token continues, shedding light on potential fraudulent activities and conflicts of interest that may have occurred.