The sudden price increase and collapse in the crypto project shared by Argentine President Javier Milei on social media caused the local parliament to launch an investigation. LIBRA, which was released after the sharing on February 14, was rapidly increasing in a short time, and then a significant decrease was observed. This development led to the financial loss of hundreds of thousands of investors.
Summary of the LIBRA event
Following the sudden price fluctuation, a sudden collapse occurred in Lıbra Memecoin. The project, which decreased in a short period of time, caused approximately 75,000 investors to damage a total of 280 million dollars. This situation, which emerged during the hours following Milhei’s sharing, brought up the security of investments made by investors again.
LIBRA investigation
Argentine MPs, three bills aimed at launching a comprehensive investigation into the incident took place in the parliament. The first draft envisaged the establishment of a commission to conduct the investigation, and 128 yes, 93 no and 7 abstaining votes were received in the vote. This step reflects that it is intended to act quickly over the incident.
Within the scope of the second bill, some officials connected to the executive body are also required to be questioned. Vice President Guillermo Francos, Economy Minister Luis Caputo, Justice Minister Mariano Cúneo Liberona and the National Securities Commission President Roberto Silva, such as names such as the process will be tried to be clarified. This bill aims to be a means to seek answers to the question marks that appear in the public opinion.
The third draft demands that detailed reports on the national level LIBRA project be submitted. The bill was accepted by 135 favorable, 84 and 7 abstaining votes. The authorities aim to reach clear information about how the project is carried out and who can be held responsible through the reports to be received.
While the event leads to serious question marks on investor confidence in the crypto market, market dynamics and risks are re -evaluated. In the later stages of the investigation process, the relevant authorities are expected to offer more details to the public.
The decisions taken in the Assembly highlight the principles of transparency and accountability in order not to encounter similar situations in the future. Warnings have been warned about the fact that investors are careful and take into account market risks.
In the future, official explanations and investigation results may provide important information in terms of the general dynamics of the crypto market. Authorities, with the completion of the process of measures to be taken with investors and market structure will positively affect.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
