The Anti-Corruption Office of Argentina (OA) ruled that President Javier Milei did not violate the state ethics law by posting about the meme coin $LIBRA on February 14, 2025. The investigation revealed that Milei's tweet was a personal act unrelated to official policy or the use of state resources. The post mentioning the token caused a sharp increase in its capitalization to $4.56 billion, but soon the price collapsed by 94%, leading to investor losses and accusations of fraud.
Milei claimed that he merely shared information about the project without knowing its details, and he deleted the post upon learning of potential risks. The OA confirmed that his actions were not an administrative offense and that the tweet did not constitute official support for the token. Nevertheless, criminal investigations and civil lawsuits in Argentina, the USA, and the UK are ongoing as investors seek compensation.
The scandal surrounding $LIBRA, dubbed 'CryptoGate', caused a significant uproar, but the OA's ruling eased pressure on Milei. The opposition continues to criticize the president, however, his reputation remains stable due to economic successes.
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