Argentina’s Opposition Party Votes to Reopen Investigation Into President Milei Over LIBRA Scandal

Political Storm Brews as Milei Faces Fresh LIBRA Probe

The Investigation Resurfaces

Argentina's opposition just forced a renewed investigation into President Milei—centered on the controversial LIBRA scandal. This marks the second major political challenge to his administration in under a year.

A Test of Transparency

The push reflects deepening distrust in Milei’s financial governance. Critics argue the LIBRA dealings echo the kind of opaque, high-risk moves that make traditional banking look downright virtuous.

High Stakes, Higher Tension

With the vote secured, the probe moves forward amid fierce public and political division. Whether it uncovers truth or fuels further instability remains to be seen—but in today’s economy, even rumors can crash markets.

Public backlash fuels probe

The scandal has triggered a wave of public anger. On Wednesday, protesters hurled lettuce and rubbish at Milei during a public appearance, an act that drew headlines across the country.

While no injuries were reported, the incident highlights mounting unrest against the president’s administration. The fresh controversy has given the LIBRA probe new momentum. It had lost traction after Milei dissolved its initial task force in May.

The LIBRA affair centers on allegations of insider trading and a pump-and-dump scheme tied to the digital token, a case prosecutors say may have involved Argentina’s highest levels of power.

Maximiliano Ferraro, a legislator from the Civic Coalition ARI and head of the new investigative body, said the commission intends to establish whether misconduct occurred. Ferraro said the investigation was reignited because questions remain over whether insider trading took place.

Political stakes ahead of elections

Five opposition parties, representing 136 of the Chamber of Deputies’ 257 lawmakers, voted to reopen the case despite pushback from Milei’s allies.

The commission set a reporting deadline of Nov. 10, weeks after Argentines head to the polls.

The inquiry adds to the mounting challenges facing Milei as he navigates a presidency already strained by economic turmoil and growing discontent. The combination of corruption scandals and revived investigations could weigh heavily on his political future.

While the LIBRA scandal has shaken Argentina’s crypto community, the broader allegations of bribery and abuse of power have struck a deeper chord with the public. With elections looming, the outcome of the investigation, and its political fallout, remains uncertain.