Meme coin Libra: assets frozen after transfer linked to a selfie

The decision by the Argentine court to freeze assets has highlighted ongoing concerns surrounding the meme coin Libra.

The funds were frozen after investigators identified a potential link between the transactions and President Javier Milei.

Furthermore, the measure has reignited fears regarding the contested token and a broader investigation into payments, drawing attention to transfers linked to high-profile figures and exchanges.

What triggered the freezing of Argentine assets on the meme coin Libra?

The case files describe specific on-chain movements that caught the attention of investigators.

Investigators claim that an on-chain movement of $507,500 occurred and the related payments have drawn attention, so now authorities are tracing how the funds moved through various platforms including the Bitget exchange.

How does Hayden Davis’s transfer relate to the investigation?

Argentine court reports mention a crypto transfer associated with President Milei, and attention has focused on the role of Hayden Davis, CEO of Kelsier Ventures, with whom Milei posted a selfie on social media 42 minutes prior.

Prosecutors noted that the payment occurred 42 minutes after a selfie was posted on social media with Davis, a timing they flagged as suspicious; consequently, the timing has become a focal point of the investigation.

Who are the named individuals?

The complaint and the freezing of funds name several parties including Javier Milei, Favio Camilo Rodredguez Blanco, Orlando Rodolfo Mellino, and Benjamin Chow.

What legal actions followed the collapse of Libra and the investigation into the Libra meme coin?

Civil lawsuits in the USA led to a temporary freeze of $58 million in May 2025, with a judge later unfavorably reassessing the block and effectively lifting it in August 2025, according to judicial coverage. That said, the defendants contest the charges; observers note the reported 90% collapse of the token from its peak after the launch in February 2023.

As a result, regulators and private plaintiffs continue to seek remedies, while exchanges and stablecoin issuers respond to subpoenas and compliance requests.