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🇦🇷 Argentine President Milei Cleared of Misconduct in LIBRA Memecoin Promotion
Buenos Aires, June 9, 2025 — Argentine President Javier Milei$MINA
has been cleared of any misconduct related to his promotion of the LIBRA memecoin earlier this year, according to a resolution issued by the country's Anti-Corruption Office.
The resolution, signed by Anti-Corruption chief Alejandro Melik, concluded that Milei was acting “in his capacity as an economist and not as a public official” when he shared the memecoin project on his personal X (formerly Twitter) account in February. The account, the report notes, was created long before Milei assumed any public office.
📈 Market Impact:
Following the post, LIBRA — a Solana-based memecoin — surged to a market capitalization of $4.5 billion.
However, after Milei deleted the post citing lack of full information about the project, LIBRA crashed by 90%, wiping out more than $4 billion in value.
According to on-chain analytics from Nansen:
86% of traders lost a combined $251 million.
A small group of early movers made $180 million in profits.
⚠️ Controversy Deepens:
Adding to the scandal, leaked messages from LIBRA co-creator Hayden Davis claimed he had influence over Milei due to alleged payments made to Karina Milei, the president’s sister and a prominent figure in his administration.
🛑 Investigative Unit Dissolved:
In a controversial move, President Milei shut down the investigative unit that had shared findings about the LIBRA case with prosecutors — raising concerns about transparency and accountability within his administration.
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Tags: Javier Milei, LIBRA, memecoin, Argentina, crypto regulation, Solana, market crash, Karina Milei, Hayden Davis
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