Attorney Gregorio Dalbón has formally requested an Interpol Red Notice against Davis, a key figure in the creation and promotion of the controversial LIBRA cryptocurrency. Dalbón, known for representing former Argentine President Cristina Fernández de Kirchner, filed the request with prosecutor Eduardo Taiano and Judge María Servini, according to a March 12 report from local media outlet Página 12.
What Is an Interpol Red Notice?
An Interpol Red Notice serves as a global alert requesting law enforcement agencies worldwide to locate and provisionally arrest an individual. Similar notices have been issued in high-profile crypto cases, including Terraform Labs’ Do Kwon.
Allegations Against Davis
Court documents reveal that Dalbón argued Davis played a “central role” in the LIBRA token launch and posed a “procedural risk” due to his significant financial resources, which could facilitate his ability to flee or go into hiding.
LIBRA Token’s Rise and Fall
The LIBRA token became a national controversy after Argentine President Javier Milei endorsed it on social media minutes after its launch. His promotion fueled speculation that his involvement contributed to the token’s rapid price surge. However, soon after, the token’s value plummeted, erasing $4.4 billion in market capitalization and leaving investors with substantial losses.
Milei’s endorsement came at 7:01 p.m. on Valentine’s Day, when he posted about the cryptocurrency, encouraging investment. The token created just 23 minutes earlier. Within hours, thousands of investors poured in, causing a meteoric rise in LIBRA’s value. However, the largest stakeholders quickly sold their shares, triggering a dramatic crash and resulting in approximately $250 million in losses for retail investors.
More: Bolivia to Use Crypto to Pay for Energy Imports
Political Fallout and Criminal Investigations
The fallout from the LIBRA scandal has ignited fierce political debates in Argentina. Critics accused President Milei of scamming his constituents, while opposition leaders called for his impeachment. In response, multiple Argentine citizens filed criminal complaints, prompting a federal prosecutor to launch an investigation, with Milei himself under scrutiny.
