Argentina Clears Milei of Wrongdoing in LIBRA Memecoin Controversy

President Javier Milei has been cleared of any ethical misconduct by Argentina’s Anti-Corruption Office after a controversial memecoin post led to investor losses topping $250 million.

The watchdog said Milei’s February 14 social media post endorsing the LIBRA token was a personal act and did not involve government resources.

The post, which helped propel LIBRA’s market cap to $4 billion before a swift 94% collapse, sparked outrage and calls for impeachment by opposition lawmakers.

Officials determined that Milei’s X (formerly Twitter) account, active since 2015, serves as a space for private and political expression rather than official announcements. The agency concluded he was within his constitutional rights to share opinions on the platform.

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The fallout, however, lingers. Public trust has declined, with polls showing a dip in Milei’s approval rating from 47% in November to 41.6% in March. Critics argue the investigation lacked seriousness, especially after Milei disbanded a task force examining the case.

Although the Anti-Corruption Office has closed its file, a federal court probe into the LIBRA scandal is still underway. Whether the president’s reputation fully recovers remains to be seen.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.