Argentine authorities are advancing an investigation into President Javier Milei and his sister, Karina Milei, stemming from their alleged ties to the failed cryptocurrency project known as LIBRA. A federal court order, issued by Judge María Servini, has mandated the Central Bank of Argentina to lift bank secrecy and disclose the financial records of both the president and his sibling. This directive, reported by the local publication Página12, is a significant step in examining their potential involvement in the token’s promotion and subsequent collapse.
The probe centers on the LIBRA token, which saw its value plummet by an estimated 99% within hours following an extensive promotional campaign. This rapid depreciation inflicted substantial financial damage on investors.
Investigation Unfolds
The judicial scrutiny is focused on uncovering any potential financial connections between the president’s circle and the individuals behind the LIBRA asset. Notably, neither Javier nor Karina Milei attended a recent hearing for a civil lawsuit brought against them. This action was initiated by an Argentine lawyer representing a group of 25 affected investors, including both domestic and international parties.
Broader investigative efforts are also underway. Authorities previously ordered the freezing of assets belonging to three of LIBRA‘s co-founders. Furthermore, prosecutors are reportedly reviewing video evidence that allegedly shows the mother and sister of one co-founder accessing bank safe deposits the day after the president publicly endorsed the token.
Allegations and Presidential Response
According to media reports, correspondence has surfaced suggesting that Hayden Davis, a co-founder of the LIBRA project, compensated the president’s sister, Karina Milei, for her assistance in promoting the token.
President Milei has consistently refuted accusations of conspiracy or fraudulent activity. He has publicly stated that his engagement was limited to “promoting the project as a fan of cutting-edge technology” and that he harbored no intent to deceive anyone.
Separately, Argentinian legislators initiated their own parliamentary inquiry into the LIBRA crypto project earlier in April.

Chris brings over six years of hands-on experience in cryptocurrency, bitcoin, business, and finance journalism. He’s known for clear, accurate reporting and insightful analysis that helps readers stay informed in fast-moving markets. When he’s off the clock, Chris enjoys researching emerging blockchain projects and mentoring new writers.