{"id":484111,"date":"2025-06-09T02:03:12","date_gmt":"2025-06-09T01:03:12","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=484111"},"modified":"2025-06-09T02:03:12","modified_gmt":"2025-06-09T01:03:12","slug":"argentine-anti-corruption-office-clears-president-milei-of-ethics-violation-over-libra-promotion","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/argentine-anti-corruption-office-clears-president-milei-of-ethics-violation-over-libra-promotion\/","title":{"rendered":"Argentine Anti-Corruption Office clears President Milei of ethics violation over LIBRA promotion"},"content":{"rendered":"

Argentina\u2019s Anti-Corruption Office has determined that President Javier Milei did not violate any ethics laws when he promoted the Solana-based LIBRA memecoin in February.<\/p>\n

In a resolution<\/a> issued on Friday, the office declared that Milei\u2019s Feb. 14 X post constituted a personal statement rather than an official announcement as a public servant. Therefore, Milei\u2019s post did not result in any ethics violations, the document signed by Alejandro Melik, head of the Anti-Corruption Office, stated.<\/p>\n

The Anti-Corruption Office is a decentralized agency that reports to the Argentine Ministry of Justice. Its chief, Melik, was appointed by the Milei administration in December 2023.<\/p>\n

The office had launched an investigation into whether Milei had engaged in any misconduct after the LIBRA token price rose and cratered within hours of his X post promoting the project. Milei himself had requested the investigation and even created a special task force he disbanded<\/a> last month after it fulfilled its mandate to examine his ties to the LIBRA token.<\/p>\n

The case is still being investigated by an Argentine federal court, which froze<\/a> Milei and his sister\u2019s assets amid the probe.<\/p>\n

The LIBRA scandal<\/h2>\n

The scandal erupted when Milei published an X post that was largely construed as an endorsement by the Argentine President. The post that was deleted within six hours and contained links to the Viva La Libertad Project website and the token\u2019s contract number, which helped investors find it on Solana, stated:<\/p>\n

\u201cThis private project will be dedicated to stimulating the growth of the Argentine economy by funding small businesses and Argentine entrepreneurs.\u201d<\/p><\/blockquote>\n

Immediately following Milei\u2019s post, the price of LIBRA rose sharply to around $5, but tanked soon after. Several investors lost millions of dollars as the token\u2019s value fell by around 95%. The scandal rocked the Argentine market, even leading to a stock market crash<\/a> days later.<\/p>\n

Immediately after the token lost value, triggering an uproar on social media, including allegations of insider trading, Milei deleted the post. In a new post on Feb. 15, he clarified that he had no ties to the project, but had decided to delete the previous post after learning about the details of the project.<\/p>\n

On Feb. 18, Milei said<\/a> that he \u201cacted in good faith\u201d when he \u201cshared\u201d the project, and had, therefore, \u201cmade no mistakes.\u201d His intention was not to promote the memecoin but to raise awareness about an effort to support Argentine businesses using crypto.<\/p>\n

The same day, however, a local media outlet reported that LIBRA co-creator Hayden Davis boasted<\/a> about his \u2018control\u2019 over Milei, thanks to his donations to Milei\u2019s sister, Karina Milei.<\/p>\n

Public trust in Milei\u2019s administration cratered<\/a> after the scandal.<\/p>\n

The findings of the Anti-Corruption Office<\/h2>\n

The Anti-Corruption Office classified Milei\u2019s post as a personal, non-official activity by the President of Argentina. It reiterated that the post \u201cdid not imply any governmental activity\u201d since it was published from Milei\u2019s personal X account, which receives no official management contributions or public resources.<\/p>\n

The resolution added that Milei\u2019s X account, where he presents himself as an \u201ceconomist\u201d and not a public official, predates his term as a congressman. The bureau, therefore, declared that the post was an expression of his personal opinion, a civil and political right guaranteed by the constitution.<\/p>\n

The conclusion was further strengthened by the fact that the message was not disseminated through any official governmental accounts. The document added:<\/p>\n

\u201c…the post under analysis did not refer to public policies, programs, government decisions, or announcements with legal or budgetary effects.\u201d<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

Argentina\u2019s Anti-Corruption Office has determined that President Javier Milei did not violate any ethics laws when he promoted the Solana-based LIBRA memecoin in February. In a resolution issued on Friday, the office declared that Milei\u2019s Feb. 14 X post constituted a personal statement rather than an official announcement as a public servant. Therefore, Milei\u2019s post […]<\/p>\n","protected":false},"author":1386,"featured_media":484117,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[76799,60793,77032,29,77644,76736],"tags":[],"post_folder":[],"acf":[],"yoast_head":"\nArgentine Anti-Corruption Office clears President Milei of ethics violation over LIBRA promotion<\/title>\n<meta name=\"description\" content=\"The Anti-Corruption Office determined that Milei\u2019s controversial post endorsing LIBRA constituted a personal, non-official activity.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/argentine-anti-corruption-office-clears-president-milei-of-ethics-violation-over-libra-promotion\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Argentine Anti-Corruption Office clears President Milei of ethics violation over LIBRA promotion\" \/>\n<meta property=\"og:description\" content=\"The Anti-Corruption Office determined that Milei\u2019s controversial post endorsing LIBRA constituted a personal, non-official activity.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/argentine-anti-corruption-office-clears-president-milei-of-ethics-violation-over-libra-promotion\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2025-06-09T01:03:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/06\/javier-millei.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Monika Ghosh\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Monika Ghosh\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/argentine-anti-corruption-office-clears-president-milei-of-ethics-violation-over-libra-promotion\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/argentine-anti-corruption-office-clears-president-milei-of-ethics-violation-over-libra-promotion\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/monika-ghosh\/#person\",\"name\":\"Monika Ghosh\",\"url\":\"https:\/\/cryptoslate.com\/author\/monika-ghosh\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/monika-ghosh\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/monika-ghosh\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/08\/monika-ghosh-author-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/08\/monika-ghosh-author-300x300.jpg\",\"caption\":\"Monika Ghosh\"},\"jobTitle\":\"Former Reporter\",\"description\":\"Monika started reading about crypto in 2020 and went deeper and deeper down the rabbit hole. 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