Argentinian court, LIBRA crash-related order to freeze President Milley's assets

President Milei who brought political turmoil with Libra gate (Source: Coin Edition)

The Argentine federal court ordered the freezing of assets of President Javier Milei and key figures related to the meme coin LIBRA collapse, reported CryptoSlate.

The court approved the lifting of bank secrecy protection for not only President Milei but also his sister, allowing investigators access to financial transaction records.

Insider trading is suspected in the background of the LIBRA collapse. President Milei promoted LIBRA through **X (formerly Twitter) last February**, and controversy grew as the price plummeted thereafter.

The Argentine prosecutor requested the freezing of assets worth about $100 million related to this incident, and the court's recent decision is seen as a measure in response. The market suggests that the LIBRA collapse may have been an organized sell-off following the leakage of inside information, and additional financial sanctions and legal actions may follow depending on the investigation results.