President Javier Milei of Argentina was cleared of allegations regarding ethics violations related to his mention of the LIBRA token. The decision was made by Argentina's Anti-Corruption Office, which highlighted that his actions were personal.
Decision by the Anti-Corruption Office
The Argentine Anti-Corruption Office conducted an investigation and concluded that Milei's mention of the LIBRA token was not an official act. Alejandro Melik, the office head, stated there was no misuse of public resources.
Impact on Cryptocurrency Market
Milei's mention of the LIBRA token in February triggered significant market reactions, with its market cap rising to nearly $4 billion before collapsing by 94%. These events highlight the vulnerabilities of cryptocurrency markets to public figure endorsements.
Ongoing Investigation
A federal criminal court continues to investigate potential market manipulation. Milei's and his sister's assets remain frozen pending outcomes, reflecting ongoing regulatory scrutiny in the cryptocurrency sector.
The case underscores the importance of proper regulation and transparency in cryptocurrency markets, aiming to protect investors from potential manipulations.
