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Argentina’s Anti-Corruption Office has officially cleared President Javier Milei of any wrongdoing in the controversial Libra ($LIBRA) token scandal, affirming his endorsement was a private action.
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The investigation confirmed that Milei’s promotion of LIBRA on his personal social media did not involve government resources or official policy, separating personal opinion from public duty.
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According to COINOTAG sources, the ruling emphasizes that Milei’s now-deleted post should be viewed as an individual communication, not a governmental endorsement.
Argentina clears President Milei in LIBRA crypto scandal; investigation finds no misuse of public office, distinguishing private endorsement from official government action.
Official Clearance of President Milei in LIBRA Token Controversy
The Argentine Anti-Corruption Office (OA) has concluded its inquiry into President Javier Milei’s involvement in the LIBRA token controversy, ruling that his public support for the cryptocurrency was a private act rather than an abuse of power. This decision comes after a thorough review of Milei’s social media activity, specifically his now-deleted post promoting LIBRA on his personal X account. The OA found no evidence that public resources or institutional support were used in connection with the promotion, underscoring a clear separation between Milei’s personal views and his official capacity as head of state.
Impact of the LIBRA Token Endorsement on Argentina’s Crypto Market
Milei’s endorsement of LIBRA in early 2025 initially sparked significant enthusiasm within Argentina’s crypto community, propelling the token’s market capitalization to over $2 billion. The token was positioned as a potential catalyst for empowering small businesses and startups, aligning with Milei’s broader economic vision. However, the subsequent 90% crash in LIBRA’s value wiped out millions in investor capital, triggering widespread public outcry and political backlash. The scandal, dubbed “Cryptogate” by local media, led opposition figures to call for Milei’s impeachment and prompted multiple lawsuits from affected investors.
President Milei’s Proactive Ethics Probe Request
In an effort to address mounting criticism and clarify his position, President Milei voluntarily requested the OA to investigate whether his actions breached any ethical standards. This unprecedented move was interpreted as an attempt to maintain transparency and control the narrative surrounding the LIBRA endorsement. Milei’s office explicitly asked the OA to determine if any member of the National Government, including the President, engaged in improper conduct. The investigation’s findings ultimately supported Milei’s claim that the promotion was a personal communication, not an official government endorsement.
Public Reaction and Ongoing Debate Over Political Influence in Crypto Endorsements
Despite the OA’s clearance, public opinion remains divided. Critics argue that endorsements from sitting presidents, even when made privately, carry significant influence and potential consequences for financial markets. The controversy has sparked broader discussions about the responsibilities of public officials in relation to emerging financial technologies and cryptocurrencies. While the legal proceedings have concluded with no ethics violations found, the debate highlights the complex intersection of politics, finance, and digital assets in modern governance.
Conclusion
The Anti-Corruption Office’s decision to clear President Milei of wrongdoing in the LIBRA token scandal marks the end of the official investigation but leaves lingering questions about the role of political figures in cryptocurrency promotion. The case underscores the importance of clear boundaries between personal opinions and public office, especially in volatile financial sectors. As Argentina continues to navigate its evolving crypto landscape, this episode serves as a critical example of the challenges and responsibilities faced by leaders in the digital age.
