- President Milei dissolved the Libute Since Task Force and led to a sudden price destination of 85%.
- Legal control deeper as federal prosecutors and American lawsuits focus on Milei on the collapse of scales.
Argentinian President Javier Milei’s Abrupt decision to dissolve the Task Force of the Government to investigate the scales[LIBRA] Memecoin led to a dramatic rise in its price and a wave of controversy.
While markets gathered, critics point to the unsolved criminal charges and the alleged financial ties of Milei with the token, asking questions about transparency and potential conflicts of interest.
The political and legal interests continue to climb while the probe is escalated to federal prosecutors.
From hype to collapse
Libra entered the Crypto market of Argentina at the beginning of 2025, fed by populist rhetoric and digital libertarianism.
The notes of President Javier Milei on X (formerly Twitter) helped to push its appreciation within a few days for $ 4.5 billion, which attracted global retail investors.
However, the rapid rise in token was followed by an equally rapid collapse. The developers, including maker Hayden Davis, are said to retire millions before they disappeared, which led to the accusations of fraud. Allegedly lost investors around $ 250 million.
Creation and closure of the UTI
In response to the growing return, the Milei administration launched the Investigative Task Force (UTI), led by María Florencia Zicavo.
But critics immediately marked the lack of independence of the body, given his position within the executive power.
The optics then deteriorated Milei Decree 332/2025 to resolve the UTI, with reference to “completion” of his objectives, without publishing any findings.
Source: TradingView
Anyway, the market reacted quickly. After the news about the dissolution of the UTI Reden scale on the press by 85% in the hourly table. The token jumped from $ 0.022 to a peak above $ 0.07 before correcting and stabilizing around $ 0.04.
At the time of writing, the RSI briefly hit 72, which indicates an overbought conditions. This competitive price movement suggests that a speculative rebound is more fed by news shock than underlying foundations.
Legal heat and increasing control
Close the uti has redirected the pressure. The federal prosecutors of Argentina are now taking the lead on criminal investigation. In the meantime, a separate conference committee is preparing its research.
Milei is confronted more than political consequences. A class-action right-wing case that has been held in the US claims negligence and misleading promotion, accusing the president of legitimizing scales and contributes to the loss of investors.
With the Uti Road and the investigation into more independent hands, the next phase can be much more consistent.