Argentine President Javier Milei and his sister Karina failed to appear at an initial civil mediation hearing tied to the LIBRA memecoin scandal, prompting the presiding judge to move ahead without them and order their bank records unsealed as part of a broader financial probe. The civil case stems from investor lawsuits alleging fraud and misrepresentation around LIBRA, a token that briefly reached a market capitalization of about $4.5 billion after Milei promoted it on social media before collapsing more than 97% within hours, leaving hundreds of millions in losses. The unsealing of banking and securities records for Milei, his sister, and other alleged participants significantly escalates the investigation, allowing authorities to trace possible flows of funds linked to LIBRA’s promotion and trading activity. This development comes despite Argentina’s Anti-Corruption Office having recently cleared Milei of ethics violations related to his promotion of LIBRA, and follows his government’s controversial decision to dissolve a special task force that had been created to investigate the scandal. With banks now required to provide detailed historical account information and Congress having set up a panel to examine the case, the episode has shifted from a short-lived memecoin boom-and-bust into a major legal and political test for Milei’s administration, with potential consequences ranging from further civil litigation to criminal exposure for key figures involved.

AI-generated background, compiled from web sources — not editorial content.

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