The fallout from the collapse of $ Balance cryptocurrency quickly transformed into a full-fledged political and legal crisis in Argentina. At the center of all this is President Javier Milei, whose public support for the token earlier this year is now under meticulous examination. What started as a flashy promotion even was slipped into asset gels, criminal complaints and questions reaching the highest levels of government. The scandal of cryptography of Argentina $ libra is a lesson on the way in which political notices can feed speculation and harm daily investors.
The judge freezes the assets, targets the inner circle
Judge María Servini authorized a freeze on the assets of several people related to the launch and promotion of $ Balance. This includes Mauricio November, Manuel Terrones Godoy and Sergio Morales, who would have played a key role in the push of the project to the public. Servini did not stop there, she also raised the protections of banking secrecy on accounts belonging to President Milei and her sister, Karina Milei, who is secretary general of the presidency.
Friday 14, the president of Argentina, Milei, tweeted on the $ Libra Coin, encouraging his supporters to buy it on the grounds that he would “help finance small businesses and start-ups”. As if that were not enough, he shared a link for people to buy it online. Naturally, in a few … pic.twitter.com/bc0i1e0sj1
– Yanis Varoufakis (@yanisvaroufakis) February 19, 2025
The purpose of the court is to follow the money. Investigators are trying to determine if someone in the inner circle of Milei financially funded the brief wave of the medal before his sudden accident.
A token stimulated by the presidential media threw
$ Libra launched on February 14 with a blow. On the same day, President Milei posted on social networks praising the token, triggering a wave of interest from investors. The price quickly increased as thousands of people bought, assuming that Milei’s approval gave the legitimacy project. But in a few days, the price tanké, Leaving many retail investors to hold the bag.
The evidence now indicates that some early initiates sell their assets just before the decline. This fueled suspicions of a coordinated pump and pumping diet and raised serious concerns concerning the violence of the public’s influence for private purposes.
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Political counterpouss is built quickly
Unsurprisingly, the scandal causes a major upheaval in the political landscape of Argentina. More than 100 complaints of fraud were filed against Milei and opposition legislators openly discuss the dismissal. The Congress launched an official investigation and the criticisms said that the president used his platform to attract citizens to a financial trap.
Milei’s approval notes took a hit, and what was formerly an administration led by high energy and led by foreigners now faced accusations of betrayal and incompetence. The scandal began to overshadow its political program and completely threatens its presidency.
Legal problems propagate beyond Argentina
Controversy is not limited to local courts. International law firms would prepare for collective appeals on behalf of investors outside Argentina who have lost money on $ balance. Meanwhile, American law enforcement organizations, including The FBI and the Department of Justice, were informed. If financial misconduct exceeded borders or violated international financial laws, this case could further increase.
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Argentina $ Balance Crypto Scandal: A hard lesson on crypto and politics
The $ Balance Fallout promises to be one of the most prominent cryptography scandals to strike Latin America. It is also a reminder of what can go wrong when political power responds to speculative assets. For investors, it is an edifying story. For politicians, it is a warning: playing with the crypto focusing on media has real consequences.
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Main to remember
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The president of Argentina, Javier Milei, is under fire after having publicly approved $ balance, a piece of memes now linked to fraud and asset gels.
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A federal judge frozen assets and raised banking secrecy on accounts related to Milei and his sister, as part of a broader financial survey.
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The evidence suggests that the first initiates of $ Libra may have threw their chips after Milei’s public support sparked a price increase, which raised fraud problems.
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More than 100 fraud complaints were filed against Milei, the Congress launched an investigation and opposition leaders discussing the dismissal.
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International legal action can follow, because investors and American authorities are looking at the question of whether the balance $ balance has violated cross -border financial laws.
The president of the Argentine post took the cryptography scandal of $ Balance appeared first on 99Bitcoins.
