Argentine Court Lifts Bank Secrecy for Milei Amidst LIBRA Probe

An Argentine court has lifted the bank secrecy privileges of President Javier Milei, allowing federal prosecutors to examine his financial records as they investigate his potential role in the collapse of the LIBRA memecoin. The order came after Judge Maria Servini’s decision on May 16th, three months following Milei’s controversial X post promoting the token. This move follows a significant surge in the price of the token before its rapid decline due to insider selling. The crash led to losses for investors, with the token market cap reaching $4.5 billion before its downfall.