LIBRA | Crypto

Wallets tied to the Libra token continue to draw liquidity and have purchased $61.5 million in Solana, despite asset freezes and fraud probes. Wallet addresses tied to the controversial Libra (LIBRA) token are still pulling money from the failed memecoin and rotating it into other cryptocurrencies despite asset freezes and ongoing fraud investigations. The wallets associated with the Libra token — which was controversially endorsed by Argentine President Javier Milei — have withdrawn nearly $4 million in liquidity from the memecoin to buy the Solana (SOL) dip. After the withdrawal, two cryptocurrency wallets associated with the Libra team acquired $61.5 million worth of SOL at an average price of $135, according to blockchain data platform Onchain Lens. Read more

Argentina’s order against Hayden Davis marks the latest move in the $250 million Libra fraud probe now spanning courts in Buenos Aires and New York. Argentina’s federal judiciary ordered a freeze of assets belonging to US promoter Hayden Davis and two alleged intermediaries tied to the collapsed Libra token, deepening an investigation into one of Latin America’s biggest crypto scandals. The order, issued by Judge Marcelo Martínez de Giorgi, reportedly covers digital wallets, bank accounts and real-estate assets of Davis, Argentine operator Orlando Rodolfo Mellino and Colombian trader Favio Camilo Rodríguez Blanco. Prosecutors said the asset freeze was necessary to prevent any transfer of assets that could represent the proceeds of fraud, as investigators work to trace a money trail estimated to be $100 million to $120 million.  Read more

Christian Catalini warns that corporate-led blockchains like Stripe’s Tempo and Circle’s Arc risk repeating the compromises that doomed Libra’s open vision.

Argentina’s opposition parties have revived a stalled investigation into President Javier Milei’s role in the LIBRA scandal, seizing on new corruption allegations that have rattled the government just weeks before October’s elections. The commission, first created in April but largely paralyzed by bureaucratic and congressional hurdles, was reactivated on Aug. 28 after leaked recordings implicated […] The post Argentina’s opposition party votes to reopen investigation into President Milei over LIBRA scandal appeared first on CryptoSlate.

Onchain sleuth found YZY sniper wallets tied to LIBRA, extracting $23 million in suspected insider gains across both token launches. An onchain investigation by pseudonymous analyst Dethective linked a wallet that sniped the Kanye West-themed token YZY to another set of wallets behind the LIBRA token, suggesting that the same operator extracted tens of millions of dollars using insider knowledge. In a series of X posts on Thursday, Dethective revealed that a YZY sniper wallet managed to buy $250,000 worth of tokens at just $0.20, far below the price most traders paid. Within minutes, the wallet secured over $1 million in profit, which was later funneled into a treasury wallet. The same treasury wallet had also received large sums from wallets tied to LIBRA’s launch six months ago. Two “Libra sniper” wallets extracted a combined $21 million. In total, nearly $23 million was pulled across the YZY and LIBRA launches, with funds later moved to Kamino or Binance. Read more

The judge cited ongoing cooperation of the defendants in the case as one of the reasons for unfreezing the stablecoins. A US judge has unfrozen $57.6 million in USDC (USDC) stablecoins tied to the Libra token scandal in February, giving memecoin promoter Hayden Davis and former CEO of the Meteora decentralized exchange Ben Chow access to the funds. US judge Jennifer L. Rochon froze the funds in May as part of a hearing in a class-action lawsuit against Davis, Chow, blockchain infrastructure company KIP Protocol and KIP’s co-founder, Julian Peh. The Judge said the defendants did not demonstrate “irreparable” harm because the funds to reimburse victims are still available, and the defendants have made no effort to move the frozen funds, according to Law360. Read more

In the latest development for the ongoing LIBRA coin legal saga, Argentinian newspaper La Nacion reports that Hayden Mark Davis, CEO of Kelsier Ventures, submitted a voluntary statement last Monday to a federal court in New York. The case centers on a class action lawsuit brought by U.S. investors who suffered losses following the rapid […] The post US entrepreneur Hayden Davis testifies in LIBRA case in New York as legal proceedings advance appeared first on CryptoSlate.

LIBRA’s collapse triggered fraud claims, insider trading accusations, and calls for Argentine President Javier Milei’s impeachment.

Argentina’s Anti-Corruption Office has determined that President Javier Milei did not violate any ethics laws when he promoted the Solana-based LIBRA memecoin in February. In a resolution issued on Friday, the office declared that Milei’s Feb. 14 X post constituted a personal statement rather than an official announcement as a public servant. Therefore, Milei’s post […] The post Argentine Anti-Corruption Office clears President Milei of ethics violation over LIBRA promotion appeared first on CryptoSlate.

Argentinian president Javier Milei has ordered the closure of the Task Force for Investigation (UTI) established earlier this year to examine his relationship with the LIBRA token, according to a May 20 publication in Argentina’s Official Gazette. Milei and Justice Minister Mariano Cúneo Libarona signed Decree 332/2025 to dissolve the task force. The decree stated […] The post Milei shuts down LIBRA task force probing ties to his administration appeared first on CryptoSlate.

The Argentine president has faced a major backlash after promoting a token with all the characteristics of a classic crypto pump-and-dump. Argentine President Javier Milei has dissolved a task force established to investigate the fallout from LIBRA, the scandalous cryptocurrency project the head of state promoted on his social media channel before it crashed to zero.  The Investigative Task Force (ITU) was dissolved via a May 19 decree signed by Milei and Justice Minister Mariano Cúneo Libarona, government documents revealed.  “The Research Task Unit is dissolved” after completing its mandate, the translated version of the decree read. Read more

An Argentine federal judge has ordered the freezing of assets belonging to key figures behind the LIBRA memecoin project as investigators examine potential fraud linked to the digital token’s promotion, including scrutiny of financial operations tied to President Javier Milei and his sister, Karina Milei, local media reported on May 15. Judge María Servini issued […] The post Judge targets central figures in LIBRA scandal with asset freeze; Milei’s financial ties under review appeared first on CryptoSlate.