Argentine Anti-Corruption Office Clears President Milei in LIBRA Memecoin Scandal

NEW: Argentina’s anti-corruption office clears President Javier Milei over LIBRA crypto scam pic.twitter.com/2pPWI8Nzi7

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The OA’s decision, published on Friday, concluded that Milei’s actions constituted a personal statement rather than an official government endorsement and, therefore, did not breach any public ethics rules. On February 14, President Milei promoted the LIBRA token on his X account, linking it to the Viva La Libertad Project aimed at supporting entrepreneurs and small businesses using cryptocurrency. This endorsement caused LIBRA’s price to surge to $5, only to crash by 95% shortly after, resulting in significant losses for investors. The incident sparked allegations of insider trading and had a significant impact on Argentina’s financial markets, resulting in a decline in the local stock exchange.

Amid the uproar, Milei deleted the original post, clarified that he had no formal ties to the project, and insisted that his intention was merely to highlight a private sector initiative. He later stated he had acted “in good faith” and denied any wrongdoing.

In response to the public backlash, Milei himself requested an official investigation. The OA, a decentralized agency under the Ministry of Justice, launched a probe into whether the president’s actions constituted misconduct. The investigation found that Milei’s post was made from his account, which is not managed using public resources and predates his presidency. The OA emphasized that the post did not reference any government policy or involve official communication channels.

The OA’s resolution, signed by agency head Alejandro Melik, reaffirmed that Milei’s post was a personal expression protected by constitutional rights and not an act of public office. However, a separate federal court investigation continues, with Milei and his sister’s assets temporarily frozen amid ongoing scrutiny.

While the OA’s findings clear Milei of ethics violations, the incident has raised questions about public trust and the responsibilities of public figures in the digital age. 

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