The Argentinian president, Javier Milei, has made the decision to shut down the Task Force for Investigation (UTI) that was created earlier this year to investigate his involvement with the LIBRA token. This information was revealed in a publication on May 20 in Argentina’s Official Gazette.
Milei and Justice Minister Mariano Cúneo Libarona signed Decree 332/2025 to dissolve the task force. The decree mentioned that all gathered information would be forwarded to the Public Prosecutor’s Office as the UTI had completed its mission.
In addition, a local news outlet, Ámbito, reported that Argentine judicial authorities have confirmed the continuation of the broader criminal investigation under the Public Prosecutor’s Office.
The investigation is focusing on potential financial crimes or conflicts of interest involving individuals associated with the president.
The disbanded task force has not disclosed any official findings, and the identities of the original LIBRA developers remain unknown.
LIBRA Fallout
Decree 114/2025 established the UTI to investigate possible fraudulent activities or misconduct in the promotion and collapse of LIBRA, a memecoin endorsed by Milei through his official X account on Feb. 14.
The LIBRA incident led to significant legal and political consequences. Following Milei’s endorsement, which portrayed the token as a means to financial liberation, LIBRA’s market cap soared to over $4.5 billion. However, the token’s value plummeted by more than 85% within days, causing accusations of market manipulation and insider trading, leading to a loss of public trust in Milei.
Milei had promoted LIBRA as a tool for funding small businesses in Argentina. After the crash, opposition lawmakers alleged that the Milei administration had encouraged unregulated financial investments among politically affiliated individuals.
Furthermore, a federal judge in Argentina issued an order to freeze assets linked to individuals associated with the LIBRA project. Judge María Servini also granted permission for investigators to access the financial records of President Milei and his sister, Karina Milei, amidst suspicions of connections to the token’s backers.
As the task force has not disclosed its investigative findings, the extent of the ties between LIBRA creators and Milei’s administration remains uncertain.
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