Argentina Freezes Hayden Davis-Linked Assets Amid Suspicious Crypto Payment Probe
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Hayden Davis, co-founder of the meme coin Libra, and two local crypto entrepreneurs, Favio Camilo Rodríguez Blanco and Orlando Rodolfo Mellino, have had their assets frozen by federal authorities.
Caso $LIBRA: la Justicia argentina congela activos de Hayden Davis y dos operadores de una “cueva” cripto que aparecen en la ruta del dinerohttps://t.co/sHfQJ4j6SS
— Hugo Alconada Mon (@halconada) November 9, 2025
The move comes amid an investigation into potential indirect payments to public officials, which has triggered concern among investors and contributed to a sell-off in $LIBRA.
Judge Freezes Assets Over Suspicious Crypto Transactions Linked to President Milei Meeting
According to reports, Federal Judge Marcelo Martinez has ordered that any assets and goods owned by Davis and the two entrepreneurs be frozen. Investigators discovered large amounts of money flowing into the crypto accounts of Rodríguez Blanco and Mellino on important dates, including right after a meeting between Davis and President Javier Milei on January 30. On that same day, President Milei shared a selfie with Davis, calling him an AI and blockchain adviser.
The judge pointed out that these transactions “could be potential indirect payments to public officials.” He also mentioned that the two entrepreneurs may have acted as “exit ramps to convert crypto into regular money,” possibly hiding who ultimately received the funds. So far, the actual beneficiaries of the money remain unknown.
Libra Investigation Intensifies Amid Potential Government Involvement
Moreover, Maximiliano Ferraro, president of the Libra Probe Congressional Commission, welcomed the decision, saying it strengthens the effort to uncover the truth about the Libra project. He added that the tracking of $LIBRA funds must continue under the courts, and that the final congressional report is expected to provide more information about who was involved in organizing and running the project.
The launch of Libra, heavily promoted on social media by President Milei, initially drew thousands of investors. However, the current investigation has raised serious concerns about possible government involvement. If the probe finds that these transactions are linked to officials in Milei’s administration, including Milei and his sister Karina, it could lead to a major national scandal and seriously harm the government’s credibility.
Market Reaction and Outlook
On the other hand, the news has already shaken the crypto market in Argentina and across Latin America. Meme coins like $LIBRA are seeing more sell-offs as investors grow cautious about possible government scrutiny and political involvement. As a result, careful investors may stay away from similar projects, which could make the overall market more unstable.
Looking ahead, the congressional commission’s upcoming report is expected to give more clarity, and investors are likely to watch the situation closely. For now, the case is still under investigation, and $LIBRA holders are advised to stay alert for further updates.
