tl;dr
**Argentina’s President Milei Faces a Double Whammy: Reopened LIBRA Probe and New Bribery Scandal**
Argentina’s political drama is heating up as President Javier Milei finds himself under renewed scrutiny—not just for his alleged role in the infamous LIBRA pump-and-dump scandal, but also for a br...
**Argentina’s President Milei Faces a Double Whammy: Reopened LIBRA Probe and New Bribery Scandal**
Argentina’s political drama is heating up as President Javier Milei finds himself under renewed scrutiny—not just for his alleged role in the infamous LIBRA pump-and-dump scandal, but also for a brazen bribery accusation that has left his administration reeling.
The LIBRA scandal, which erupted in 2021 when a cryptocurrency linked to Milei’s allies was accused of manipulating markets, has long been a thorn in the president’s side. The initial investigation, launched in April, hit a wall due to bureaucratic snafus and congressional gridlock. But now, a new commission—backed by a coalition of opposition parties—has forced the probe back into the spotlight, with the October elections looming as a critical deadline.
Maximiliano Ferraro, a legislator leading the new commission, has called for swift action: “Was there or wasn’t there insider trading at the highest levels of power? I don’t want to jump to conclusions, but this is an investigative commission.” His words underscore the tension as Argentina’s Justice Department weighs whether to dig deeper into Milei’s alleged ties to the now-defunct LIBRA project.
Yet, the renewed focus on LIBRA may be less about crypto and more about a separate scandal that has shaken Milei’s core. Earlier this month, leaked phone recordings surfaced involving Diego Spagnuolo, Milei’s former attorney and a government official. In the audio, Spagnuolo allegedly claimed that Milei and his sister, Karina, were directly involved in bribery. The recordings, which Spagnuolo confirmed were genuine, have ignited a firestorm.
The fallout was immediate. Protesters turned to a bizarre form of dissent: hurling lettuce and trash at Milei during a public appearance. “It was surreal,” one onlooker said. “People were more shocked than angry, but the message was clear—this isn’t going to be swept under the rug.”
This bribery scandal, unrelated to crypto, has inadvertently given the LIBRA investigation new life. With elections in October, opposition parties are seizing the moment to paint Milei as a leader tainted by corruption. The timing is no accident. If the new commission uncovers evidence linking Milei to the LIBRA scandal, it could shift public opinion ahead of the vote.
For now, the president’s camp remains defiant. Milei has dismissed the allegations as “political theater,” while his allies argue the investigations are being weaponized to undermine his economic reforms. But with the Justice Department’s probe and the opposition’s renewed push, one thing is certain: Argentina’s president is facing a reckoning that could reshape the nation’s political landscape—and its crypto history.
As the clock ticks toward October, the question isn’t just whether Milei will survive the scandals. It’s whether Argentina’s economy—and its trust in its leaders—can weather the storm.