Argentine's President Javier Milei dissolves LIBRA investigation unit

Argentine's President Javier Milei dissolves LIBRA investigation unit

Argentine President Javier Milei has dissolved the special investigative unit tasked with examining the scandal surrounding $LIBRA, a cryptocurrency he himself promoted in February 2025. This decision, made via presidential decree, comes before the investigation’s findings were made public, sparking criticism from the opposition, who view it as an attempt to cover up the affair.

Following Milei's promotion of the cryptocurrency on social media, the value of $LIBRA skyrocketed before crashing abruptly, resulting in significant losses for many investors. In response to the controversy, Milei initially announced the creation of an investigative unit to shed light on the matter. However, less than three months later, the unit has been disbanded, with the Argentine government claiming its mission has been completed.

Political opposition strongly condemned the move, accusing the president of trying to evade responsibility for the scandal. Calls have been made to relaunch the investigation through Congress, while the Argentine judiciary continues its probe, particularly into the financial links between Milei, his sister Karina, and the promoters of $LIBRA. This development raises questions about transparency and accountability within the Argentine government, as the country continues to grapple with the economic and political fallout of the $LIBRA scandal.

Kraken launches regulated derivatives in Europe

Kraken has recently expanded its offering in Europe by introducing regulated crypto derivatives. This move was made possible by obtaining a MiFID II license through the acquisition of a Cyprus-based investment firm registered with the Cyprus Securities and Exchange Commission. The license enables Kraken to offer both perpetual and fixed-term futures contracts to retail and professional clients across the entire European Economic Area, which includes the 27 EU member states as well as Iceland, Norway, and Liechtenstein.

This initiative is part of Kraken’s broader strategy to strengthen its position in Europe’s rapidly growing crypto derivatives market—a segment that represents a significant portion of overall cryptocurrency trading volume. By offering a comprehensive range of regulated derivatives, Kraken is addressing the growing demand from European investors for sophisticated financial instruments that comply with current regulations.

By solidifying its presence in Europe, Kraken demonstrates its commitment to providing services that meet the highest regulatory standards, while equipping clients with advanced trading tools to navigate the complex world of digital assets.

Trump’s crypto dinner

On May 22, 2025, Donald Trump hosted a private dinner at the Trump National Golf Club in Sterling, exclusively for the top investors in his cryptocurrency, $TRUMP. Admission ranged from $50,000 to $1 million, drawing 220 handpicked guests. Among them were controversial figures such as Chinese billionaire and Tron founder Justin Sun—who is under fraud investigation—and former NBA player Lamar Odom, a promoter of the memecoin $ODOM.

The luxury dinner stood in stark contrast to protests outside, where demonstrators denounced it as a “shameful dinner,” accusing Trump of monetizing his political influence through crypto. The use of the presidential seal at the event sparked outrage even among some Republicans.

The top 25 investors received luxury gifts, including high-end watches. Democratic lawmakers have called for investigations into potential conflicts of interest and even corruption. This event once again raises concerns about the blurred line between Trump’s personal business interests and public office, particularly as he continues to embrace crypto as a central part of his political brand.

Organized by his close associate Bill Zanker and funded through World Liberty Financial, the event appears to have strengthened an inner circle of influence around $TRUMP. As Trump positions himself as “the Bitcoin President,” the dinner has sparked renewed concerns about the democratic integrity of American leadership.

Trade war reignited with the EU

On May 23, 2025, Donald Trump announced the imposition of 50% tariffs on all imports from the European Union, effective June 1. He justified the move by citing failed trade negotiations, accusing the EU of unfair practices and referencing a trade deficit of over $250 billion—though official figures show a $235.5 billion goods deficit, partially offset by a services surplus.

The announcement sent shockwaves through global financial markets. Major European indices tumbled: Germany’s DAX fell 2.3%, France’s CAC 40 dropped 1.7%, and the pan-European Stoxx 600 declined 1.5%. In the U.S., the S&P 500 dropped 0.7%, the Dow Jones 0.6%, and the Nasdaq 1%, marking the worst week for the S&P 500 in seven weeks. Trump also threatened a 25% tax on smartphones manufactured outside the U.S., directly targeting Apple, which he criticized for offshoring production to India. Apple shares fell nearly 3% in response.

Europe’s reaction was swift. EU Trade Commissioner Maroš Šefčovič stated that the EU was prepared to defend its interests, emphasizing that any trade agreement must be based on mutual respect—not threats. Analysts fear an escalation of trade tensions, recalling the economic disruptions caused by previous trade wars. Trump’s new wave of tariffs may reignite fears of a global recession, just as markets were beginning to stabilize after early-year volatility.