Shocking Twist: Milei’s LIBRA Probe Shutdown Sparks Controversy and Price Surge! 😲💰

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  • In a move that could only be described as theatrical, President Milei disbanded the LIBRA probe task force, triggering a sudden 85% price surge. Bravo! 🎭
  • As if on cue, legal scrutiny deepens with federal prosecutors and U.S. lawsuits targeting Milei over LIBRA’s spectacular collapse. What a plot twist! 📜

Ah, the illustrious Argentine President Javier Milei! His abrupt decision to disband the government task force investigating the LIBRA memecoin has not only sparked a dramatic surge in its price but also unleashed a veritable tempest of controversy. Who knew that a little chaos could be so profitable? 💸

While the markets rallied like a pack of enthusiastic puppies, critics were quick to point out the unresolved criminal charges and Milei’s alleged financial ties to the token. Transparency? Conflicts of interest? Oh, what a delightful cocktail of political intrigue! 🍸

As the political and legal stakes continue to climb, one can only wonder how high this drama will soar. The probe has now escalated to the federal prosecutors, and the audience is on the edge of their seats! 🎢

From hype to collapse

LIBRA made its grand entrance into Argentina’s crypto market in early 2025, propelled by populist rhetoric and the siren call of digital libertarianism. A true spectacle! 🎉

With President Javier Milei’s endorsements echoing across X (formerly Twitter), its valuation soared past $4.5 billion in mere days, attracting global retail investors like moths to a flame. 🔥

However, as is often the case in such tales, the token’s meteoric rise was followed by an equally swift collapse. Its developers, including the elusive creator Hayden Davis, allegedly withdrew millions before vanishing into thin air, leaving behind a trail of accusations of fraud. Investors reportedly lost around $250 million. Ouch! 😱

Creation and closure of the UTI

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Regardless, the market reacted with the enthusiasm of a child on Christmas morning. Following news of the UTI’s dissolution, LIBRA surged 85% in the hourly chart, at press time. The token jumped from $0.022 to a peak above $0.07 before correcting and stabilizing around $0.04. Quite the rollercoaster ride! 🎢

At the time of writing, the RSI briefly hit 72, signaling overbought conditions. This sharp price movement suggests a speculative rebound fueled more by news shock than underlying fundamentals. A classic case of “buy the rumor, sell the news!” 📈

Legal heat and increasing scrutiny

Shutting down the UTI has redirected the pressure like a well-aimed cannonball. Argentina’s federal prosecutors now take charge of the criminal investigation, while a separate congressional committee is gearing up its inquiry. The plot thickens! 🍿

Milei faces more than just political fallout. A class-action lawsuit filed in the U.S. alleges negligence and deceptive promotion, accusing the president of legitimizing LIBRA and contributing to investor losses. Oh, the drama! 🎭

With the UTI gone and the investigation moving to more independent hands, the next phase could be far more consequential. Stay tuned, dear readers! 📺

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2025-05-21 14:23