Special Committee to investigate President Mairi’s role in the Libra Meme Coin scandal

Argentine lawmakers voted to approve the establishment of a special parliamentary committee to investigate the controversial Libra (Libra) Meme Coin scandal.

The vote saw 128 people gained an advantage, with 7 abstaining against 93.

Libra Meme Coin Scandal

According to the report, the committee has the authority to summon the top government officials and request documents from public bodies. Key figures to be testified include Economy Minister Luis Capto, Justice Minister Mariano Cuneo Livarona and Prime Minister Gigermo Francos.

However, there have been criticisms regarding President Murray and his sister Karina being excluded from the investigation. In particular, MP Sabrina Selva argued that both should be forced to clarify their involvement in the Libra incident.

The investigation follows accusations that Milei uses his influence to promote Libra Meme Coin. The tokens surged in value to $5, and they briefly reached a market capitalization of $4 billion after President Miley shared details about the X token.

However, this value collapsed over 94% when he deleted the post, causing suspicions of pump and dump schemes.

In response, lawyers Marcos Zelaya and Jonathan Bardiviezo joined the engineer Maria Eva Cootian Flame and economist Claudio Rozano to file formal criminal charges on February 17th, where individuals accused Mairei of breaking it. Several critics also claim the project is a “ragpur” scam, accusing Mairay of using a considerable amount of social media of 3.8 million to mislead investors.

Survey results related to Libra

A report from on-chain analytics platform Nansen found that 86% of traders who purchased Meme Coin lost an estimated $251 million. Only a handful of lucky investors left with more than $180 million in profits.

Subsequent research by Blockchain Analytics Firm Bubblemaps Bubblaps linked creators to previous pump and dump operations, and even provided evidence of high-profile benefits across a range of wallets, including wallets connected to Melania Token Creators. Despite this, Hayden Davis, creator of Libra, dismissed the criticism and defended Meme Coin Dynamics, claiming that those upsets had missed opportunities.