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Argentine prosecutors seek to freeze $110 million in assets related to the Libra meme coin scandal.

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The Block
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Mar 5, 2025

Eduardo Tayanos, the federal prosecutor of Argentina, is actively seeking to freeze assets related to the Libra meme coin scandal, which has attracted attention due to its alleged connection to President Javier Milei. The investigation focuses on the Solana-based meme coin Libra, which Milei promoted on social media last month. Its market value soared to over 2 billion under Milei's support but subsequently plummeted by more than 90%. Tayanos has requested to freeze over 110 million obtained from the issuance of Libra and plans to restore deleted social media posts, including Milei's initial endorsement statement. The case has sparked a political storm in Argentina, with the opposition calling for Milei's impeachment, while his allies claim he was not directly involved in the token's creation. Milei tweeted on February 14 to promote the Libra project, stating it would fund small businesses and startups to boost the Argentine economy. Although Milei has distanced himself from the project, denying detailed knowledge and deleting promotional posts, the prosecutor's actions indicate an in-depth investigation into his involvement. Hayden Davis, CEO of Kelsier Ventures, appears to play a central role in the Libra scandal and has prompted the president's promotion. Davis admitted during an interview with YouTube investigator Stephen Findeisen that he holds all profits from the Libra crash, worth over 110 million.

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