Libra investigations continue to deepen in Argentina. Authorities are now focusing on key individuals connected to the meme coin that President Javier Milei shared on social media. This week, Circle, the company behind the USDC stablecoin, froze two wallets holding more than $57 million.
The move followed months of discussions with parties tied to the case. The freeze happened on May 28. Confusion remains about who requested it. Burwick Law, a U.S. legal firm, claims responsibility. So does Martin Romeo, an Argentine citizen who lost funds in the Libra fallout.
He said he worked with Circle for two months. He views the action as a turning point in Argentina’s legal response. In March, prosecutor Eduardo Taiano asked the courts to freeze all assets tied to Libra. Since then, the case has gained momentum. Taiano recently requested mobile data from local carriers.
Milei and Associates Under Investigation
He seeks phone records from President Milei, his sister Karina Milei, and entrepreneurs Mauricio Gaspar Novelli, Manuel Terrones Godoy, and Sergio Daniel Morales.
They all may have taken part in Libra’s launch. Officials want to find out if the social media promotions came from a planned campaign or happened spontaneously.
The outcome could define whether laws were broken. So far, no one has faced formal charges, but the investigation widens. Earlier, Milei shut down a task force that had been following the case. He said it had completed its job.
Libra Collapse Sparks Legal Storm
Critics questioned that decision, suggesting it came too soon. Despite this, new legal efforts have continued on different fronts. Many believe the Libra meme coin harmed thousands across the country. The sudden collapse of the token left investors angry and searching for answers.
Milei has denied any involvement beyond sharing public information. Still, his role remains under review. The case reflects growing concerns around meme coins and public figures who endorse them. It also shows the limits of online influence when tied to financial loss.
The frozen funds may lead to partial recoveries, but the legal process will take time. Authorities remain cautious but determined. They continue to gather evidence and track digital money trails. For now, the future of Libra, and those who backed it, stays uncertain.
