Argentina’s Congressional Fee investigating the cryptocurrency LIBRA will current its long-awaited ultimate report at the moment at 4 PM native time (2 PM EST), simply as tens of millions of {dollars} in pockets actions set off contemporary scrutiny.
The timing and the dimensions have raised pressing questions on political duty, judicial oversight, and the destiny of funds tied to one in all Argentina’s most contentious crypto investigations.
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Remaining Libra Report back to Land Amid New Proof and Judicial Actions
Maxi Ferraro, President of the LIBRA Investigative Fee, confirmed that the ultimate report is the end result of months of testimony, paperwork, technical evaluation, and judicial coordination.
“Look at that… right on the day of the presentation of the final report, after yesterday’s meeting with Taiano and following the report from the Public Prosecutor’s Office. To this is added the judge’s ruling from 11/6 and the information revealed by the Commission on 10/21, which was furthermore confirmed in that judicial resolution,” Ferraro shared in a Tuesday put up.
Yesterday, Ferraro and Fee members met with Prosecutor Carlos Taiano, delivering what he described as crucial proof.
In response to Ferraro, the data offered included particulars that may very well be linked to oblique funds to public officers associated to one of many alleged crypto dens.
Ferraro emphasised that the Fee acted inside its oversight mandate, saying the report goals to find out what political actions or omissions “allowed, facilitated, or failed to prevent the development of this case.”
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$58 Million in Crypto Quietly Strikes Simply Earlier than the Report
Whereas Congress prepares to launch its findings, on-chain analysts detected main pockets exercise linked to the LIBRA case.
In response to blockchain researcher Fernando Molina, two dormant wallets, “Milei CATA” and “Libra: Team Wallet 1” instantly liquidated their USDC positions, totaling greater than $58 million, and swapped the stablecoin for SOL.
These wallets had been inactive for 9 months. The SOL was then moved to a different deal with generally known as FKp1t.
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“The first interpretation… is that they did it so that the money cannot be frozen… it may be the last time we see this money visible,” Molina famous.
He additionally highlighted that US authorities froze and later unfroze the funds after figuring out there was “no risk,” whereas Argentine prosecutors have repeatedly sought freezing orders since April.
Crucially, SOL can’t be frozen, not like USDC, a element that fuels hypothesis concerning the timing and intent behind the transfers, particularly with the Fee’s report being launched at the moment.
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Political Oversight Meets Crypto Immutability
Ferraro burdened that the Fee’s mission was by no means symbolic.
“Political oversight is not an institutional formality, but an indispensable obligation to preserve the integrity of the State… we are going to present a serious and compelling final report.”
The Fee argues that it achieved extra in months than others did with considerably extra time, framing at the moment’s launch as a turning level for institutional accountability in Argentina’s cryptocurrency governance.
The publication of the ultimate report will set the stage for judicial follow-through, potential political penalties, and renewed scrutiny of LIBRA-linked wallets, which at the moment are shifting funds past the attain of freezing orders.
With prosecutors actively investigating alleged oblique funds and on-chain analysts warning these latest transactions often is the final seen traces of key funds, at the moment’s findings might reshape the subsequent part of Argentina’s ongoing crypto crackdown.
