Argentina president LIBRA scandal

Key Points:* President Milei’s promotion of LIBRA cleared by Anti-Corruption Office.

• Investigations in the U.S. and collective lawsuits are in progress.
• LIBRA token crashed post-promotion, causing substantial investor losses. Argentina’s Anti-Corruption Office has cleared President Javier Milei of any administrative violation concerning his promotion of the LIBRA token. The decision comes during ongoing investigations by the U.S. Federal Criminal Court.

President Milei’s involvement in LIBRA promotion drew attention following significant market fluctuations and investor losses, raising questions about potential legal and ethical implications.

Anti-Corruption Office Clears Milei, US Probes Continue

Argentina’s Anti-Corruption Office concluded that President Javier Milei’s promotion of the LIBRA token this time was a “private act” and did not involve misuse of public resources or official influence. LIBRA’s value surged to $2 billion after the promotion but then drastically fell by 90%. Probes continue by the U.S. Federal Criminal Court and investors from multiple countries against potential market manipulation.

Calls for President Milei’s impeachment emerged from opposition leaders following the token’s value collapse. Investors from the U.S., UK, and Argentina have filed a collective lawsuit, and U.S. authorities continue to investigate. No significant repercussions were observed for other major cryptocurrencies.

Calls for President Milei’s impeachment emerged from opposition leaders following the token’s value collapse. Investors from the U.S., UK, and Argentina have filed a collective lawsuit, and U.S. authorities continue to investigate. No significant repercussions were observed for other major cryptocurrencies.

LIBRA’s Market Crash: Investor Impact and Future Implications

Did you know? Investigations into market manipulation linked to political figures have occurred before, often reshaping market regulations. Past incidents prompted significant scrutiny, similar to the LIBRA case yet often less impactful politically.

As of June 8, 2025, LIBRA (a Solana-based memecoin) recorded a market cap of approximately $8.32 million, with a circulating supply of over 256 million. According to CoinMarketCap, its price saw a 26.10% increase over the last week; however, it is down 60.02% over the past three months.

LIBRA(LIBRA), daily chart, screenshot on CoinMarketCap at 01:55 UTC on June 8, 2025. Source: CoinMarketCap Coincu research suggests potential outcomes of these intricate investigations. Future regulatory changes may emerge, possibly influencing how tokens are promoted by public officials. Javier Milei stated, “The Unidad de Tareas de Investigación (UTI) has accomplished its objective.” The LIBRA scandal could serve as a cautionary tale for future cryptocurrency endorsements.