Solana News Update: Crypto Authorities Pursue Shadows While Libra Channels $4M to Solana
- Argentina and U.S. regulators investigate Libra meme token's $4M liquidity siphoned to Solana amid fraud probes. - Token collapsed hours after Milei's endorsement, wiping $250M from 40,000 investors as prosecutors froze $100-120M in assets. - On-chain data reveals Libra-linked wallets converting $3.94M to SOL during price dips, raising transparency concerns. - Political tensions escalate as Milei's administration faces "Cryptogate" allegations despite anti-corruption clearance. - Cross-jurisdictional leg
Authorities in Argentina and the United States are ramping up their investigation into the defunct Libra
Libra, which briefly reached a $4.5 billion market cap following public support from Argentine President Javier Milei for founder Hayden Davis in February,
Despite these interventions, blockchain records indicate that two wallets linked to Libra—labeled "Defcy" (the Libra Deployer) and "61yKS" (Libra: Wallet)—
The controversy has heightened political friction in Argentina, where Milei’s government is accused of questionable connections to the scheme. Legal filings allege Davis converted tokens to cash during high-level meetings at Casa Rosada, fueling the "Cryptogate" scandal. Although Argentina’s anti-corruption agency cleared Milei of ethical wrongdoing,
Legal proceedings are now unfolding in multiple countries. Judge Marcelo Martínez de Giorgi in Buenos Aires extended asset freezes, while U.S. Judge Jennifer Rochon temporarily released $57.6 million in
Experts point out that the Libra incident is part of a recurring trend in the memecoin world, where hype is used to extract liquidity. Similar strategies have been seen in previous Davis-related tokens such as M3M3, MELANIA, and WOLF. "This isn’t a one-off event but reflects a broader risk in the memecoin arena," a blockchain analyst commented, stressing the importance of tighter regulation for tokens promoted via social media.
As the probe continues, the Libra affair is serving as a proving ground for international enforcement tactics. With more than $13 million in USDC still held in related wallets, authorities must balance the task of recovering assets for victims with the complex political and technical landscape of crypto oversight.
---
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
ARK's technology investments steer through hurdles in regulation and profitability
- ARK Invest, led by Cathie Wood, allocated $7.9M to Roblox shares on Nov 18, 2025, while reducing Pinterest holdings by $5.19M via ARKK and ARKF ETFs. - The firm expanded fintech exposure by acquiring Klarna ($3.25M) and Circle ($3.07M) shares, aligning with sector growth amid profitability concerns. - Biotech investments included $2.09M in Recursion and $2.64M in CRISPR Therapeutics , reflecting ongoing focus on gene-editing innovations. - A $7.2M sale of Teradyne shares signaled a strategic shift away f
Adobe’s $1.9 Billion Semrush Acquisition: Leveraging AI Marketing to Bridge the Figma Void
- Adobe nears $1.9B Semrush deal to boost AI-driven marketing, its first major acquisition since failed Figma bid. - $12/share offer values Semrush at 78% premium, doubling its $1.1B market cap despite regulatory risks. - Acquisition aims to fill Figma gap by integrating AI SEO tools for brands managing AI/LLM and traditional platforms. - Semrush shares jumped 70% premarket while Adobe stock remained flat, reflecting mixed investor confidence. - Analysts see strategic AI alignment but warn of potential dea
Bitcoin Updates: Aifinyo Maintains Consistent Acquisition Approach Despite Bitcoin’s Downturn
- Aifinyo AG, a German fintech firm, acquired 2 BTC, totaling 30.9 BTC, to strengthen its corporate treasury strategy . - European companies increasingly adopt Bitcoin as a strategic reserve, following moves by Czech and Luxembourg sovereign wealth funds. - Despite Bitcoin's seven-month low and ETF outflows, firms like Strategy Inc. persist in large-scale Bitcoin accumulation. - MiCA regulatory advancements in Europe, including tokenized assets and compliant tokens, reinforce institutional adoption momentu
NVIDIA Results Set to Challenge AI Boom's Strength as Doubts Over Valuation Persist
- NVIDIA shares rose 1.1% pre-market as investors awaited Q3 earnings, a key test for the AI-driven market rally. - Analysts forecast $54.9B revenue and $1.26 EPS, but warn of volatility if results deviate from expectations. - The report could reshape tech sector dynamics, with strong AI infrastructure demand vs. valuation concerns. - Market focus also includes Fed minutes and retail earnings, but NVIDIA's performance remains pivotal. - Analysts remain divided: a beat could reinforce AI growth confidence,
Trending news
MoreCrypto prices
More
