New Political Winds Revive LIBRA Probe Against Milei as Argentine Chaos Deepens

Argentina’s cryptocurrency community is bracing for renewed scrutiny as opposition lawmakers breathe fresh life into dormant LIBRA investigations targeting President Milei. What initially stalled under bureaucratic gridlock now faces new momentum—driven not primarily by crypto concerns, but by broader corruption allegations shaking Milei’s administration.

How the Probe Stalled, Then Resurged

The original LIBRA task force, assembled in April to examine Milei’s potential involvement in the infamous pump-and-dump scheme, quietly dissolved in May. Simultaneously, U.S.-based prosecutions related to the scandal hit a dead end. For weeks, the case appeared relegated to Argentina’s growing list of unresolved crypto scandals.

That changed dramatically following leaked audio recordings from Diego Spagnuolo, Milei’s former legal advisor and current government official. The recordings detailed alleged bribery involving Milei and his sister Karina. After initially denying authenticity, Spagnuolo acknowledged the calls were genuine—triggering public outrage that literally saw citizens pelting the President with vegetables outside government buildings.

Political Coalition Weaponizes the LIBRA Scandal

The bribery scandal provided unexpected political cover for crypto investigations. Five opposition parties, commanding 136 of 257 Chamber seats, have jointly demanded the LIBRA investigation resume. Milei’s supporters attempted to block the measure but lacked sufficient parliamentary support.

Why This Matters for the LIBRA Community Center and Stakeholders

The reactivated commission now operates with a November 10 deadline—notably after Argentina’s October general elections. Prosecutors previously compiled evidence suggesting direct links between Milei and his sister to LIBRA’s collapse, but political resistance had frozen proceedings. Now, investigators can pursue these leads openly, potentially uncovering how the scheme unfolded and who profited from community losses.

For Argentina’s wider libra community center and those monitoring government accountability in crypto, this investigation signals that pressure persists despite administrative obstacles. The timing suggests prosecutors may release damaging findings precisely when Milei faces re-election scrutiny.

Looking Ahead

The scandal has become inextricably linked to Milei’s political survival. While the LIBRA investigation represents just one component of mounting controversies, it carries symbolic weight for a nation attempting to establish rule of law in emerging asset classes. Whether the November deadline produces substantive conclusions or merely political theater remains unclear—but the investigation’s resurrection demonstrates that even dormant crypto scandals can resurface when broader political conditions shift.