Argentina - November 2025

On 18 November, an Argentine congressional commission concluded its investigation into the alleged $LIBRA cryptocurrency fraud, implicating President Javier Milei and his sister, Karina Milei, in the scheme. The report accuses Milei of using his presidential platform to promote $LIBRA, a cryptocurrency that collapsed in value shortly after its launch, causing significant financial losses to over 114,000 investors. The commission highlighted Milei's social media endorsement of $LIBRA, which boosted demand before a ‘rug pull’ —a fraudulent manoeuvre where insiders abruptly withdraw funds, causing the asset's value to plummet—led to its abrupt devaluation. The report also alleges misuse of government resources and connections to facilitate the scheme, raising questions about Milei's role and accountability. While the findings have been submitted to judicial authorities, further congressional action is unlikely as many of the new lawmakers elected in October’s mid-term elections are aligned with Milei. They will assume office on 10 December.

Sources: El País, Indo Premier, AP News, International IDEA