President Javier Milei of Argentina has been cleared by the Anti-Corruption Office (OA) regarding the LIBRA cryptocurrency scandal. However, questions about the incident remain.
Personal Account, Not Presidential Authority
The OA confirmed that Milei's X account, used to promote the LIBRA token, is a personal account and was not intended for official purposes. According to the OA, 'the characteristics of this social media account are those of a private citizen sharing political opinions.'
The Rise and Fall of LIBRA
The LIBRA token saw a rapid rise in value following Milei's endorsement, only to plummet by 94% within hours. It briefly reached a peak market cap of $4 billion, leading to accusations of pump-and-dump schemes and widespread lawsuits.
Milei Denies Wrongdoing
Milei has maintained his innocence, claiming he aimed to support struggling small businesses in Argentina. Following the token's crash, he retracted his post and called for a formal investigation, but critics argue the inquiry was insufficient.
Although Milei has been officially cleared of wrongdoing by the Anti-Corruption Office, skepticism regarding his involvement continues, leading to international legal actions and scrutiny on political figures endorsing high-risk digital assets.
