Libra Case Update: $57 Million Frozen, Investigations Progress
Sergio Goschenko
Legal
Libra Case Update: $57 Million Frozen, Investigations Progress
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Legal actions against the Libra meme coin, which was shared by Argentina’s President Javier Milei, continue to progress. This week, Circle froze two addresses containing over $57 million in funds, while authorities investigate the involvement of individuals allegedly linked to the meme coin.
Libra Probes Advance: Circle Freezes $57 Million, Argentina Scrutinizes Communications
The investigations regarding Libra, the meme coin whose launch was shared by Argentine President Javier Milei on social media channels, keep advancing, both locally and internationally.
On May 28th, Circle, the issuer of the USDC stablecoin, froze over $57 million in two addresses linked to the operation of the meme coin. However, there is confusion about the origin of this measure, as both Burwick Law, a U.S.-based firm, and Martin Romeo, affected by the Libra’s debacle in Argentina, stated they were responsible for this action.
Romeo claimed that they had been in contact with Circle for two months, calling this development a milestone for the Argentine justice system. In March, Argentine prosecutor Eduardo Taiano called to freeze all of the funds associated with the Libra token.
The case is approaching a decisive turn in local courts, as Taiano has recently begun scrutinizing communications related to the launch involving all Argentine citizens involved. According to Argentine media, Taiano has contacted mobile carriers to obtain information about the phone lines owned by Javier Milei, his sister Karina Milei, Mauricio Gaspar Novelli, Manuel Terrones Godoy, and Sergio Daniel Morales, all entrepreneurs allegedly involved in the conception of Libra.
The measure aims to determine whether there was a prior agreement for promoting the currency on social media or if it was spontaneous. Previously, President Milei disbanded a task force investigating the Libra case, claiming it had fulfilled its purpose and was no longer needed.
The Libra meme token launch is believed to have affected tens of thousands, with Milei repeatedly denying any wrongdoing regarding the mention of the token to his followers.
Read more: The Libra Incident: Examining Argentine President Javier Milei’s Confusing Token Endorsement and Its Destructive Aftermath
Read more: Milei Dissolves Argentine Task Force Investigating Alleged Libra Market Manipulation
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