TechFlow news, May 17 — According to Cryptoslate, an Argentine federal judge has ordered the freezing of assets belonging to key figures in the LIBRA meme coin project and lifted bank secrecy protections for President Javier Milei and his sister as part of an investigation into alleged fraud.
Judge María Servini issued the ruling on May 14, probing suspected "pump-and-dump" activities linked to the project. In February, after Milei publicly endorsed the token on social media, LIBRA's market value briefly exceeded $4.5 billion before crashing more than 85%, with liquidity rapidly evaporating.
The court imposed a 90-day asset freeze on three central figures, including Novelli, barring them from transferring or selling property. Opposition lawmakers are now calling for an independent investigation into the extent of the president's involvement.
