Javier Milei Cleared By Argentina’s Corruption Watchdog In Libra Meme Coin Scandal

Argentina’s Anti-Corruption Office has cleared President Javier Milei in the Libra meme coin scandal and said he did not breach any of his presidential duties when he promoted the token.

The country’s anti-corruption watchdog said in a June 5 resolution that President Milei was acting in his personal capacity when he promoted Libra in February. 

Milei Was Just Expressing His Private Views When He Mentioned Libra

The Libra meme coin showed all of the classic traits of a crypto pump-and-dump scheme after it soared to a market cap of $4 billion following President Milei’s mention on X. Just hours thereafter, it plummeted and erased 94% of its value.

CoinMarketCap data shows LIBRA is down over 96% from its launch price to trade at $0.02915 as of 1:35 a.m. EST.

Argentina’s opposition party subsequently called for Milei’s impeachment, with allegations that he contributed to investors losing a combined $251 million after they bought into the token as a result of his endorsement.

However, the Anti-Corruption Office said that none of Argentina’s public resources were used to promote Libra, adding that Milei was just sharing his private views on X, which he has done since 2015. 

Milei Shuts Down Task Force, But Critics Argue No Proper Investigation Took Place

In May, Milei shut down a task force that was established to investigate the Libra incident with a presidential decree.

Despite being cleared by the Anti-Corruption Office, a federal criminal court is still investigating his involvement in the Libra meme coin scandal. 

There are also still some critics who argue that no legitimate investigation into the scandal and Milei’s involvement ever took place. 

“It was always a fake, they never dared to investigate anything at all, and they’re covering each other up because they’re completely up to their necks in it,” said a member of the Chamber of Deputies of Argentina in a May 20 X post.