Argentinian President Javier Milei has announced an investigation regarding the launch of the $LIBRA token. This decision comes in response to emerging concerns about the project’s legitimacy following the removal of a social media post.
Investigation Process
According to the presidential office’s statement, the investigation will thoroughly examine relevant financial transactions and the actions of all involved parties. The goal of the research is to determine whether any public officials engaged in inappropriate conduct.
Javier Milei: “We hope to determine that no public official acted inappropriately.”
KIP Protocol stated that it did not play a direct role in the launch process of the $LIBRA token, adding that all transactions were conducted solely by Kelsier Ventures. The company emphasized its post-launch role was limited to providing technical support without any financial gains.
KIP Protocol: “Contrary to allegations, we only provided technical support.”
Financial Transactions and Additional Comments
A special investigative unit within the presidency will meticulously evaluate relevant financial records and other data. The review will also consider fluctuations in market activities and some insider trading movements.
Some figures in the crypto sector have also issued warnings regarding the situation. Binance founder Changpeng Zhao highlighted potential financial risks related to celebrity-backed projects.
Changpeng ‘CZ’ Zhao: “I believe misleading promotions can pose financial risks.”
The data obtained during the final stages of the investigation will be submitted to the relevant authorities. Despite fluctuations, the $LIBRA token price shows signs of recovery, but the investigation’s outcomes are expected to influence the process.
